Banking Awareness Test for IBPS, RBI, SBI, NABARD & other Bank Examinations

Q.  What is the full form of APR?

a. Annual Priority Rates
b. Annual Percentage Rates
c. Amoritized Priority Rates
d. None of the above


ANSWER: See Answer
 
An annual percentage rate (APR) is the annual rate charged for borrowing through an investment. It is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan.
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