Question

When the mortgaged property is a renewable lease-hold, for the renewal of the lease, and may, in the absence of a contract to the contrary, add such money to the principal money, at the rate of interest payable on the principal, and, where no such rate is fixed:

• A. at the rate of eight percent per annum
• B. at the rate of nine percent per annum
• C. at the rate of six percent per annum
• D. at the rate of seven percent per annum

Answer 1

The Correct Option is B

The correct option is (B):at the rate of nine percent per annum.