A maize farmer obtains a loan of N120,000.00 at an interest rate of 9% to be repaid in one year. Calculate the interest to be paid on the loan.

By: |Published on: Jun 12|Categories: Agricultural Science WAEC| 0 comments

A. N10,800.00
B. N13,333.00
C. N109,200.00
D. N1,080,000.00

Correct Answer:

Option A – N10,800.00

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