The Banker's Rule uses____?*1 pointuses ordinary interestuses exact interestuses both ordinary and exact interestnone of the above

The Banker's Rule uses

Interest rate on deposits offered by a Bank is decided by_____

. Banks provide a higher rate of interest on which one of the following accounts?

Interest that is paid on both the previously earned interest as well as the original amount deposited is known as which of the following?Simple interestAdjustable rate interestAnnuitiesCompound interest

Banks provide a higher rate of interest on which one of the following accounts?(A) Saving account(B) Current account(C) Fixed deposits for long period(D) Fixed deposits for very short period