Question

Difference between interest paid on deposits and interest received on loans refers to

Answer 1

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Answer 2

Interest paid on deposits and Interest received on loans. One leads to the income earned and another as expenses to be paid.

EXPLANATION-

Interest is the rate percentage of money earned or paid by the course of lending and acceptance of the principal amount, or on some assets kept as a mortgage or given on rent.

Interest paid like on Insurance, motagage, etc.

Internet received like on the saving account, on assets as per given on rent, etc.

Hence, these are the areas where the internet can be received or paid.

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