Total interest expended will be: a. OMR 50,400,000 b. OMR 45,000,000 c. OMR 55,000,000 d. OMR 45,400,000 Total of non-interest expenses during the year was: a. OMR 9,660,000 b. OMR

Total interest expended will be: a. OMR 50,400,000 b. OMR 45,000,000 c. OMR 55,000,000 d. OMR 45,400,000 Total of non-interest expenses during the year was: a. OMR 9,660,000 b. OMR 8,680,000 c. OMR 16,860,000 d. OMR 16,680,000 Transcribed Image Text: Following are the balances of Bank Muscat for the year ended as on 31st December 2020 (Amounts are in 000′ OMR)
PARTICULARS
OMR
Interest on Savings Account
6,000
Interest on Fixed Deposits
33,000
Interest on Loans
19,200
Rent and Rates
1,500
Interest on Current Account
Interest on Cash Credits
4,500
16,800
Discounts received
21,000
Commission Expenses
600
Commission Received
Director’s Fees
Salaries and Allowances
Interest on Overdrafts
2,400
150
6,000
18,000
Interest on borrowings from other banks
1,500
Legal Charges
90
Transfer Fees paid
1,200
Locker Rent
1,800
lother office expenses
120
Depreciation on Fixed Assets
6,000
Miscellaneous Expenses
1,200
Other Adjustments:
i. Fair value of sale of investments were increased by: OMR 3,600
ii. Loss on exchange difference arising on transactions of foreign operations was: OMR 600
iii. Income tax expenses: OMR 9,000
iv. Impairment for loans: OMR 300
v. Impairment for investments: OMR 2,700
vi. Rebate on bills discounted: OMR 1,800

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