CBSE · Class 10 · Social Science · Economics: Money and CreditWhich of the following is included in the terms of credit?
Step-by-Step Solution
Interest rate, collateral, documentation required, and the mode of repayment together comprise what is called the terms of credit.
Detailed Options Breakdown
Option : Only interest rate
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Economics: Money and Credit.
Option 1: Interest rate, collateral, documentation and repayment mode (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Only bank's profit
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Economics: Money and Credit.
Option 3: Borrower's age and qualification
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Economics: Money and Credit.
💡 Study Guide: This question tests core syllabus concepts from Economics: Money and Credit. For formulas, key summaries, and mock exam reference guides, read the full Economics: Money and Credit Revision Notes.