The amount charged for a defined length of time for uses of principal, generally on year basis is known as

CA Foundation · Quantitative Aptitude · MTP · September 2024
The amount charged for a defined length of time for uses of principal, generally on year basis is known as
(A) A. Balance
(B) B. Rate of Interest
(C) C. Principal
(D) D. EMI

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. Rate of Interest

Topics: Part-A: Business Mathematics

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