ibps-so 2020 · Question 340 of 351

When an arbitral award does not specify any interest, at what rate shall interest be payable on the sum directed by the award?

AAt the rate of 18 per cent per annum
BAt the rate of three per cent above the current rate of interest prevalent on the date of award
CAt the rate of two per cent above the current rate of interest prevalent on the date of awardCorrect
DAt the rate of 9 per cent per annum
ENone of the above

Answer: C. At the rate of two per cent above the current rate of interest prevalent on the date of award

Official answer key verified. Detailed explanation coming soon.

Source: IBPS SO Law Officer Mains Memory Based 2020 - Adda247 · memory-based

Practice the full ibps-so 2020 paper

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ibps-so 2020 · Question 340 of 351

AAt the rate of 18 per cent per annum
BAt the rate of three per cent above the current rate of interest prevalent on the date of award
CAt the rate of two per cent above the current rate of interest prevalent on the date of awardCorrect
DAt the rate of 9 per cent per annum
ENone of the above

Official answer key verified. Detailed explanation coming soon.

Source: IBPS SO Law Officer Mains Memory Based 2020 - Adda247 · memory-based

Practice the full ibps-so 2020 paper

Timed test with all 351 questions, just like the real exam.