Read the Assertion and Reasoning and select the correct option.
Assertion (A): Bank rate is also called as credit rate.
Reasoning (R): Banks need funds to expand credit facilities to their clients, specially during busy season.
1
both assertion (A) and reasoning (R ) are true and Reason (R ) is the correct explanation of Assertion (A)
2
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
3
Assertion (A) is true but Reason (R) is false.
4
Assertion (A) is false but Reason (R) is true.