what is repo rate?
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Answer Posted / praneek
Whenever the banks have any shortage of funds they can borrow it from RBI. Repo rate is the rate at which banks borrow money from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive.
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In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.
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