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A maize farmer obtains a loan of N120,000.00 at an interest rate of 9% to...

Agricultural Science
WAEC 2002
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.
  • A. N10,800.00
  • B. N13,333.00
  • C. N109,200.00
  • D. N1,080,000.00
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Correct Answer: Option A
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