07 August 2008
naresh.r you are not know 12% this rate how can we say in rupees? it is rate when you are depositing rs 100 then bank will give rs 12 as a interest to you
07 August 2008
Percentage means rate per hundred. In case of banks the rate is usually given in terms of rupees. As such, 12% pa means that interest of rupees 12 will accrue on Rs 100 on the expiry of one complete year.
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