Start learning →

The length of time until a loan must be paid off is its:

ATier
BTrace
CTrend
DTerm
Answer & Solution
Correct answer: D. Term
1. It is fixed when the loan is made. 2. It is measured in years for an annual rate. 3. It is the term of the loan. _Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
Practise this question with Quill — IBPS Clerk →

Keep practising Simple Interest

Browse all Simple Interest questions for IBPS Clerk, or explore more Quantitative Aptitude topics.

Start a Simple Interest lesson →
Related questions
Spot the one that does not fitDoes it raise the interest or lower it?Pick the right answer, quicklyFill the gaps on interestOrder the steps of a loan calculationTrue or false about simple interestWork out the simple interestMatch each term to what it means