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Analyze the information given below, considering one of the following correct options:
Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.
- a)Mode of re-payment
- b)Terms of credit
- c)Interest on loan
- d)Deposit criteria
Correct answer is option 'B'. Can you explain this answer?
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Analyze the information given below, considering one of the following...
Terms of credit are the requirements need to be satisfied for any credit arrangements. It includes interest rate, collateral, documentation and mode of repayment. However the terms of credit vary depending upon the nature of lender, borrower and loan.
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Analyze the information given below, considering one of the following...
Terms of credit:
The terms of credit refer to the conditions and terms under which the loan is to be repaid. In this case, Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The loan is to be repaid in 3 years in monthly installments.
Loan Amount:
Rita has taken a loan of ₹ 7 lakhs from the bank.
Loan Duration:
The loan is to be repaid in 3 years.
Interest Rate:
The annual interest rate on the loan is 14.5 percent.
Installments:
Rita is required to repay the loan in monthly installments over the course of 3 years. The exact amount of each installment will depend on the loan amount, interest rate, and duration of the loan.
Collateral:
The bank has retained the papers of the new car as collateral. This means that if Rita fails to repay the loan, the bank has the right to take ownership of the car.
Repayment of Loan:
Rita will only have the papers of the car returned to her once she has repaid the entire loan amount along with the interest. This implies that the loan needs to be fully repaid within the agreed-upon duration of 3 years.
Analysis:
Based on the given information, the correct option is "Terms of credit" (option B). This is because the information provided mainly focuses on the terms and conditions of the loan, including the loan amount, duration, interest rate, installment payments, and collateral requirements. The other options (mode of repayment, interest on loan, and deposit criteria) are not explicitly mentioned in the given information and therefore cannot be considered as the correct option.
The terms of credit refer to the conditions and terms under which the loan is to be repaid. In this case, Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The loan is to be repaid in 3 years in monthly installments.
Loan Amount:
Rita has taken a loan of ₹ 7 lakhs from the bank.
Loan Duration:
The loan is to be repaid in 3 years.
Interest Rate:
The annual interest rate on the loan is 14.5 percent.
Installments:
Rita is required to repay the loan in monthly installments over the course of 3 years. The exact amount of each installment will depend on the loan amount, interest rate, and duration of the loan.
Collateral:
The bank has retained the papers of the new car as collateral. This means that if Rita fails to repay the loan, the bank has the right to take ownership of the car.
Repayment of Loan:
Rita will only have the papers of the car returned to her once she has repaid the entire loan amount along with the interest. This implies that the loan needs to be fully repaid within the agreed-upon duration of 3 years.
Analysis:
Based on the given information, the correct option is "Terms of credit" (option B). This is because the information provided mainly focuses on the terms and conditions of the loan, including the loan amount, duration, interest rate, installment payments, and collateral requirements. The other options (mode of repayment, interest on loan, and deposit criteria) are not explicitly mentioned in the given information and therefore cannot be considered as the correct option.
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Analyze the information given below, considering one of the following correct options:Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.a)Mode of re-paymentb)Terms of creditc)Interest on loand)Deposit criteriaCorrect answer is option 'B'. Can you explain this answer?
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Analyze the information given below, considering one of the following correct options:Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.a)Mode of re-paymentb)Terms of creditc)Interest on loand)Deposit criteriaCorrect answer is option 'B'. Can you explain this answer? for Class 10 2024 is part of Class 10 preparation. The Question and answers have been prepared according to the Class 10 exam syllabus. Information about Analyze the information given below, considering one of the following correct options:Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.a)Mode of re-paymentb)Terms of creditc)Interest on loand)Deposit criteriaCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Class 10 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Analyze the information given below, considering one of the following correct options:Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.a)Mode of re-paymentb)Terms of creditc)Interest on loand)Deposit criteriaCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Analyze the information given below, considering one of the following correct options:Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.a)Mode of re-paymentb)Terms of creditc)Interest on loand)Deposit criteriaCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 10.
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ample number of questions to practice Analyze the information given below, considering one of the following correct options:Rita has taken a loan of ₹ 7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly instalments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest. Analyse the loan information given above, considering one of the following correct options.a)Mode of re-paymentb)Terms of creditc)Interest on loand)Deposit criteriaCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Class 10 tests.
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