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Money paid by a bank on money deposited with it is called:
AMarkup
BInterest
CDiscount
DSales tax
Answer & Solution
Correct answer: B. Interest
1. Banks reward you for keeping money with them.
2. Borrowers pay the same thing on loans.
3. It is interest.
_Source: NCERT Class 8 Mathematics, Chapter 7, Comparing Quantities._
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