A farmer obtained a of N250,000 at a simple interest rate of 8% per annum
AGRICULTURE
WAEC 2015
A farmer obtained a of N250,000 at a simple interest rate of 8% per annum to be paid in two years what would be the interest the farmer will pay on the loan?
- A. N20,000
- B. N40,000
- C. N250,000
- D. N400,000
Correct Answer: B. N40,000
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