Banking Awareness - Types Of Bank Accounts
Which factor primarily determines the interest earned on a fixed deposit?
Which factor primarily determines the interest earned on a fixed deposit?
medium Q6 of 15
Step-by-Step Solution
Step 1: Identify interest calculation basis.
FD interest depends on amount and duration.Step 2: Eliminate unrelated factors.
Withdrawals and transactions do not apply.Final Answer:
Deposit amount and tenure → Option BQuick Check:
Higher amount or longer tenure = more interest ✅
Quick Trick: FD interest depends on money and time.
Common Mistakes:
- Confusing FD interest with savings account interest.
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