Sawaal
4
Q:

What does the APR on a credit card determine?

A) fee paid by bank for deposits B) fee paid for borrowing money
C) Both A & B D) None of the above

Answer:   B) fee paid for borrowing money



Explanation:

A credit card's interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate. This is called the annual percentage rate (APR). On most cards, you can avoid paying interest on purchases if you pay your balance in full each month by the due date.

APR1531898775.jpg image

Your APR is expressed in terms of a year, but credit card companies use it to calculate charges over your monthly statement period.

apr_(1)1531898786.jpg image

Subject: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO
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