Multiple choice

What is Red Ink Interest?

  1. Interest from the date of closing to the due date

  2. Interest calculated 3 days after due date

  3. Interest calculated from 31st October to the due date

  4. Interest calculated from year ending to the due date

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

It is customarily followed that interest from the date of closing to its due date is written in Red Ink, hence called Red- Ink Interest.

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