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    • Question

      A bank has granted a loan of ₹10,00,000 to a company

      with a 5-year tenure and an annual interest rate of 12%. What is the annual interest income from this loan?
      A ₹50,000 Correct Answer Incorrect Answer
      B ₹1,20,000 Correct Answer Incorrect Answer
      C ₹12,000 Correct Answer Incorrect Answer
      D ₹6,00,000 Correct Answer Incorrect Answer
      E ₹60,000 Correct Answer Incorrect Answer

      Solution

      The annual interest income is calculated as: Interest Income=Loan Amount×Interest Rate =10,00,000×12%=₹1,20,000

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