Question

A company took a loan of Rs.10,00,000 from ICICI bank at an interest of 15% p.a. 14% debentures of Rs.15,00,000 were issued as collateral security. The bank is entitled to get interest on _________ a) Rs.10,00,000 only b) Rs. 15,00,000 only c) Both (a) & (b) d) None of the above

Answer 1

bank is only entitled to get interest on 10,00,000 loan @15% only