A farmer obtained #250,000 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?

By: |Published on: Jan 18|Categories: Agricultural Science WAEC| 0 comments

A. # 20,000
B. #40,000
C. #250,000
D. #400,000

Correct Answer: Option B

B. #40,000

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