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MA
Question Practice

In the context of loans, what does the term 'interest rate' refer to?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 10
Social Science
Understanding Economic Development
MONEY AND CREDIT
Question Bank

In the context of loans, what ...

Single Answer MCQ
Q-00015840

In the context of loans, what does the term 'interest rate' refer to?

1

The return on deposits

2

The fee for loan processing

3

The percentage cost of borrowing

4

The amount returned on investments

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