Question

If the company has adopted Table A as the articles, the interest charged on calls-in-arrears will be _______________.

• A. $5$% per annum
• B. $7$% per annum
• C. $9$% per annum
• D. $10$% per annum

Answer 1

The correct option is A $5$% per annum

According to Table A :-

Default rate of interest to be levied on call- in- arrears

5% p.a

Now Company can charge 10% interest on call-in-arrear