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    Question

    A bank sanctions a cash credit limit of ₹10 lakh. The

    borrower uses ₹6 lakh on average throughout the year. The interest rate is 9% p.a. What is the interest paid?
    A ₹90,000 Correct Answer Incorrect Answer
    B ₹54,000 Correct Answer Incorrect Answer
    C ₹60,000 Correct Answer Incorrect Answer
    D ₹45,000 Correct Answer Incorrect Answer
    E ₹65,000 Correct Answer Incorrect Answer

    Solution

    Interest = ₹6,00,000 × 9% = ₹54,000

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