Business Studies Multiple Choice Question – 21 February 2018

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

A business pays annual interest of £1812.50 on a bank loan of £155,500.

Which one of the following is the annual interest the business pays as a percentage of the amount borrowed?

Select ONE answer only:

  1. 5.17
  2. 4.17
  3. 3.17
  4. 2.17
  5. 1.17

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Business Studies KS4 classes.

The answer is 5 – £1812.50 / £155,500 x 100 = 1.17% 

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