a)Borrow RM1,000 pay back RM1200 = 20 days x RM60.
Interest rate: 360%pa
b)Borrow RM1,000 pay back RM1200 = 4 weeks x RM300
Interest rate: 240%pa
c)Borrow RM1,000 pay back RM1200 = 3 months x RM 400
Interest rate: 80% pa
Ask the pharmacist
1) Is my calculation correct?
2) Who want to take option A? Even option C i also won't take.
Base Lending Rate is 6.75%pa
Fixed Deposit is 3.7%
PTPTN loan is 3% pa
Share market is 10% or more
Selling pharmacy goods 10-25%
b) If u want to borrow money from loan shark, try not to pay back soon. The longer the period, the lower the interest? hehe
c) Loan biz is a good biz. Profit Margin at least 20%. The customer will find u, not that u need to find customers. Just leave your contact around.