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    Question

    A bank provides Letter of Credit (LC) for ₹1 crore. If

    the LC commission is 1% p.a. for 90 days, how much income will the bank earn?
    A ₹25,000 Correct Answer Incorrect Answer
    B ₹75,000 Correct Answer Incorrect Answer
    C ₹50,000 Correct Answer Incorrect Answer
    D ₹1,00,000 Correct Answer Incorrect Answer
    E ₹1,25,000 Correct Answer Incorrect Answer

    Solution

    Commission = ₹1 crore × 1% × 90/360 = ₹25,000

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