Analyze the information given below, considering one of the following correct options:Mohan is an agricultural labourer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 per cent per month. Mohan repays the money by working physically for the landowner on his farmland.Over the years his debt will –a)Increase - because of increasing interest and non-payment of monthly amountb)Remain constant - as he is working for the employer but is repaying lessc)Reduce - as amount equivalent to his salary is being counted as monthly repaymentd)Be totally repaid - as he is repaying the debt in the form of physical labourCorrect answer is option 'A'. Can you explain this answer?

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Analyze the information given below, considering one of the following correct options:

Mohan is an agricultural labourer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 per cent per month. Mohan repays the money by working physically for the landowner on his farmland.

Over the years his debt will –

a)
Increase - because of increasing interest and non-payment of monthly amount
b)
Remain constant - as he is working for the employer but is repaying less
c)
Reduce - as amount equivalent to his salary is being counted as monthly repayment
d)
Be totally repaid - as he is repaying the debt in the form of physical labour

Correct answer is option 'A'. Can you explain this answer?

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Over the years his debt will increase because of increasing interest and non-payment of monthly amount

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Analysis:

Background:
Mohan is an agricultural labourer who relies on credit to meet his daily expenses during months when he has no work. He borrows money from his employer, the landowner, who charges an interest rate of 5% per month. Mohan repays the borrowed amount by working physically on the landowner's farmland.

Options:
a) Increase - because of increasing interest and non-payment of monthly amount
b) Remain constant - as he is working for the employer but is repaying less
c) Reduce - as the amount equivalent to his salary is being counted as monthly repayment
d) Be totally repaid - as he is repaying the debt in the form of physical labour

Explanation:

Option a) Increase - because of increasing interest and non-payment of monthly amount:
- Mohan borrows money from his employer, the landowner, at an interest rate of 5% per month.
- This means that every month, the debt increases by 5% of the original borrowed amount.
- If Mohan is unable to make monthly repayments and only repays through physical labor, the debt will continue to accumulate interest.
- Therefore, over the years, Mohan's debt will increase due to the interest charges and non-payment of the monthly amount.

Conclusion:
Based on the given information, option a) Increase - because of increasing interest and non-payment of monthly amount, is the correct answer. Mohan's debt will continue to grow over the years due to the interest charges and the fact that he is not making regular monthly repayments.

Answered by Dr Manju Sen · View profile

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Analyze the information given below, considering one of the following correct options:Mohan is an agricultural labourer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 per cent per month. Mohan repays the money by working physically for the landowner on his farmland.Over the years his debt will –a)Increase - because of increasing interest and non-payment of monthly amountb)Remain constant - as he is working for the employer but is repaying lessc)Reduce - as amount equivalent to his salary is being counted as monthly repaymentd)Be totally repaid - as he is repaying the debt in the form of physical labourCorrect answer is option 'A'. Can you explain this answer?

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Analyze the information given below, considering one of the following correct options:Mohan is an agricultural labourer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 per cent per month. Mohan repays the money by working physically for the landowner on his farmland.Over the years his debt will –a)Increase - because of increasing interest and non-payment of monthly amountb)Remain constant - as he is working for the employer but is repaying lessc)Reduce - as amount equivalent to his salary is being counted as monthly repaymentd)Be totally repaid - as he is repaying the debt in the form of physical labourCorrect answer is option 'A'. 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:Mohan is an agricultural labourer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 per cent per month. Mohan repays the money by working physically for the landowner on his farmland.Over the years his debt will –a)Increase - because of increasing interest and non-payment of monthly amountb)Remain constant - as he is working for the employer but is repaying lessc)Reduce - as amount equivalent to his salary is being counted as monthly repaymentd)Be totally repaid - as he is repaying the debt in the form of physical labourCorrect answer is option 'A'. 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:Mohan is an agricultural labourer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 per cent per month. Mohan repays the money by working physically for the landowner on his farmland.Over the years his debt will –a)Increase - because of increasing interest and non-payment of monthly amountb)Remain constant - as he is working for the employer but is repaying lessc)Reduce - as amount equivalent to his salary is being counted as monthly repaymentd)Be totally repaid - as he is repaying the debt in the form of physical labourCorrect answer is option 'A'. Can you explain this answer?.

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