Question

If current bank rate is 9% and RBI decreases it by 10 basis points,then what will be new rate

Answer 1

Answer:

11% will be new rate...........

Answer 2

Answer:

8.90%

Explanation:

As we know that 1%Bank=100basis point

9%Bank rate=900Basis points

Basis points is decreased by 10 points

x%bank rate=(900-10)Basis points

calculation:

900x=890×9

x=8.90%