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Bank charges interest on
  • a)
    Deposits
  • b)
    Loans
  • c)
    Both (a) & (b)
  • d)
    None of above
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Bank charges interest ona)Depositsb)Loansc)Both (a) & (b)d)None of...
Banks charge interest on loans. When a customer borrows money from the bank, the bank charges the customer interest as a fee for using the borrowed money. This interest is the bank's profit on the loan.
Community Answer
Bank charges interest ona)Depositsb)Loansc)Both (a) & (b)d)None of...
And (b)
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Bank charges interest ona)Depositsb)Loansc)Both (a) & (b)d)None of aboveCorrect answer is option 'B'. Can you explain this answer?
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