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O-LevelCommerceBanking7100/11 · Oct/Nov 2011 · Q311 Mark

$400 is invested into a bank savings account at a rate of interest of 5% per year. What is the total amount of interest gained after one year?

A$1.25

B$20

C$80

D$2000

✓ Correct answer

B: $20

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About this question

Topic: Banking, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2011 Paper 1 Variant 1, question 31.

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