Question
In international wire transfers, which role does a SWIFT
Code play for the sender and the beneficiary?Solution
A SWIFT Code is used to help route the international wire transfer to the correct bank and branch, ensuring that the funds reach the intended beneficiary accurately.
A sum of money lent out at simple interest amounts to Rs.620 after 2 years and to Rs.1220 after a further period of 4 years. The sum is:
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