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Best CAT Coaching In Delhi - CAT | Quantitative Ability | Arithmetic | Commercial Mathematics | Simple Interest and Compound Interest
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Type : MCQ

Question Statement :

ICICI bank offers a 1-year loan to a company at an interest rate of 20 percent payable at maturity, while Citibank offers on a discount basis at a 19% interest rate for the same period. How much should the ICICI Bank decrease/increase the interest rate to match up the effective interest rate of Citibank?