Question

Statement: Interest rate will be fixed on the basis of our bank's rate prevailing on the date of deposit and refixed every quarter thereafter.
Conclusions: l. It is left to the depositors to guard their interest.
Il. The bank's interest rates are subject to change on a day-to-day basis depending on market position

• A. if only conclusion I follows
• B. if only conclusion II follows
• C. if either I or II follows
• D. if both I and II follow

Answer 1

The correct option is B if only conclusion II follows

I does not follow because the statement is silent about the depositors. II follows from the phrase "bank's rate prevailing on the date of deposit" which means the rates are subject to day-to-day changes.