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State Whether the Following Statements Are True Or False with Reasons : The Interest is More on Savings Deposits. - Economics

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Question

State whether the following statements are True or False with reasons : 

 The interest is more on savings deposits.  

Solution

False, the interest is less on savings deposits.
Explanation:
The interest rate is generally small on the savings deposits. On the other hand, in case of fixed deposits, the interest rate is relatively higher.

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