The so-called one-cent interest rate is 1% monthly interest rate; converted into annual interest rate is 12%. \x0d\If you borrow 10,000 yuan, the interest for one month is:\x0d\10000×1%=100 yuan;\x0d\If you borrow 10,000 yuan, the interest for one year is:\x0d\10000×1%×12=1200 Yuan.