Multiple Choice Questions on What is the real interest rate on a Credit Card loan bearing 24 interest per year if the rate of inf........... for CAPF (AC) Exam Preparation

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Multiple Choice Questions

What is the real interest rate on a Credit Card loan bearing 24 interest per year if the rate of inf...........

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    What is the real interest rate on a Credit Card loan bearing 24% interest per year, if the rate of inflation is 10%? 

    This questions was previously asked in
    CAPF 2019 Paper-1
    View All CAPF Previous Year Papers

    240%

    Incorrect Answer

    34%

    Incorrect Answer

    14%

    Correct Answer

    4%

    Incorrect Answer
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    Explanation:

    Interest per year is 24% Rate of inflation is 10% Real interest rate

    = Interest per year - Rate of inflation

    = 24-10 = 14% 

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