Previous year MCQs

Aptitude & Reasoning UPPSC 2006 GS-I
Question

A man borrows Rs. 1200.00 from a bank for a period of 3 months. He finds that he his to repay Rs. 1236.00. The bank rate of interest is:

Answer & Solution

Answer: (Detailed Solution Below)

Option C: 12%

Detailed Solution:

The correct answer is “12% ”.
Bank rate of interest is 12%.

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