A bank charge 120 as an arrangement fee for a personal loan of 4000, how much did the fee represent as a percentage of loan
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,A bank charge 120 as an arrangement fee for a personal loan of 4000, about 45900 much did the fee represent as a percentage of loan
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120/4000 multiplied by 100 that is 3 percent.
If banks charge Rs.120 for 4000 rupees personal loan then you need to divide the loan amount by bank charge and then you need to multiple the amounts with 100.
You will get the answer that is 3% only. This percentage of amount is basically treated as processing fees.
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