alleryStart learning →On a Rs 100,000 loan at 12% a year, the first month's interest is about?
ARs 10,000
BRs 1,000
CRs 100
DRs 12,000
Answer & Solution
Correct answer: B. Rs 1,000
Monthly rate is 12% / 12 = 1%, and 1% of 100,000 is Rs 1,000.
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