Q. 6 B

Tick the correct answer.

Arun is one of the few people in Sonpur to take a bank loan because
A. Other people in the village prefer to borrow from the moneylenders.

B. Banks demand collateral which everyone cannot provide.

C. Interest rate on bank loans is same as the interest rate charged by the traders.

Answer :


Arun is one of the few people in Sonpur to take a bank loan because it is necessary to provide collateral to the bank while borrowing and everyone in the village cannot provide collateral as Arun is able to do, therefore he can easily borrow having the capacity of paying the debts in future.

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