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A firm pays 3% fixed on a notional of Rs 200 million for one year. What is the fixed payment?

ARs 600,000
BRs 3 million
CRs 6 million
DRs 60 million
Answer & Solution
Correct answer: C. Rs 6 million
Fixed payment = 3% x 200 million = Rs 6 million for the year.
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