Post-UTME Physics 2011 Objective — Question 8
Question 8 of 16 from the Post-UTME Screening (Post-UTME) Physics 2011 Objective paper, with the correct answer and a full explanation.
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Obi borrows N10.00 at 2% per month simple interest and repays N8.00 after 4 months. How much does he still owe?
- A. N10.80
- B. N10.65
- C. N2.80Correct
- D. N2.67
Explanation
Interest = 10x0.02x4 = N0.80. Total owed = N10.80. After repaying N8.00: N2.80 remaining. (Note: this question is a near-duplicate of one found in the FUTO 2013/2014 Type D session in this same PDF set; the same independently-worked answer is used here.)
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