Question 15
MediumOriginal questionA loan of ₹1 lakh taken today, to be repaid in instalments over three years, uses money as
Show the answer and explanation
CorrectNot quiteAnswer C
Correct answer: C
Explanation
Future payments are fixed in money, so both sides know what is owed.
- Concept
- Standard of deferred payment
- Typical timeTypical
- 70 s
- Your timeYours
- —
Practise this chapter →
Ten questions from Money and Its Functions, at your own pace.