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Read the source given below and answer the questions that follows:
The European companies gradually gained power – first securing a variety of concessions from local courts, then the monopoly rights to trade. This resulted in a decline of the old ports of Surat and Hooghly through which local merchants had operated. Exports from these ports fell dramatically, the credit that had financed the earlier trade began drying up, and the local bankers slowly went bankrupt. In the last years of the seventeenth century, the gross value of trade that passed through Surat had been ₹16 million. By the 1740s it had slumped to ₹3 million.
Answer the following MCQs by choosing the most appropriate option.
Q. .............. slowly went bankrupt.
  • a)
    Exporters
  • b)
    Dealers
  • c)
    Bankers
  • d)
    Customers
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Read the source given below and answer the questions that follows:The...
“Gradually and then suddenly.” The dialogue above is from Ernest Hemingway's 1926 novel, The Sun Also Rises. It's often attributed to Mark Twain or F. Scott Fitzgerald, or misquoted as something like “At first you go bankrupt slowly, then all at once.” But the theme is the same.
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Most Upvoted Answer
Read the source given below and answer the questions that follows:The...
The correct answer is option C) Bankers.

Explanation:
The passage states that the decline of the old ports of Surat and Hooghly led to a decrease in exports, which in turn affected the credit that had financed earlier trade. As a result, the local bankers slowly went bankrupt.

1. The decline of the old ports:
- The passage mentions that European companies gradually gained power and secured monopoly rights to trade.
- This resulted in a decline of the old ports of Surat and Hooghly from where local merchants had operated.
- As European companies gained control over trade, the exports from these ports fell dramatically.

2. Decrease in exports and drying up of credit:
- With the decline of the old ports, the exports from Surat and Hooghly decreased significantly.
- As a result, the credit that had financed the earlier trade began drying up.
- This means that the local merchants were no longer able to obtain sufficient credit to continue their business activities.

3. Bankruptcy of local bankers:
- The passage states that the local bankers slowly went bankrupt.
- This implies that the decline in exports and drying up of credit had a direct impact on the financial stability of the local bankers.
- As the exports decreased and credit dried up, the local merchants were unable to repay their debts to the bankers, leading to their bankruptcy.

Therefore, option C) Bankers is the most appropriate answer as it accurately reflects the impact of the decline in exports and drying up of credit on the financial status of the local bankers.
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Read the source given below and answer the questions that follows:The European companies gradually gained power – first securing a variety of concessions from local courts, then the monopoly rights to trade. This resulted in a decline of the old ports of Surat and Hooghly through which local merchants had operated. Exports from these ports fell dramatically, the credit that had financed the earlier trade began drying up, and the local bankers slowly went bankrupt. In the last years of the seventeenth century, the gross value of trade that passed through Surat had been ₹16 million. By the 1740s it had slumped to ₹3 million.Answer the following MCQs by choosing the most appropriate option.Q. .............. slowly went bankrupt.a)Exportersb)Dealersc)Bankersd)CustomersCorrect answer is option 'C'. Can you explain this answer?
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Read the source given below and answer the questions that follows:The European companies gradually gained power – first securing a variety of concessions from local courts, then the monopoly rights to trade. This resulted in a decline of the old ports of Surat and Hooghly through which local merchants had operated. Exports from these ports fell dramatically, the credit that had financed the earlier trade began drying up, and the local bankers slowly went bankrupt. In the last years of the seventeenth century, the gross value of trade that passed through Surat had been ₹16 million. By the 1740s it had slumped to ₹3 million.Answer the following MCQs by choosing the most appropriate option.Q. .............. slowly went bankrupt.a)Exportersb)Dealersc)Bankersd)CustomersCorrect answer is option 'C'. 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 Read the source given below and answer the questions that follows:The European companies gradually gained power – first securing a variety of concessions from local courts, then the monopoly rights to trade. This resulted in a decline of the old ports of Surat and Hooghly through which local merchants had operated. Exports from these ports fell dramatically, the credit that had financed the earlier trade began drying up, and the local bankers slowly went bankrupt. In the last years of the seventeenth century, the gross value of trade that passed through Surat had been ₹16 million. By the 1740s it had slumped to ₹3 million.Answer the following MCQs by choosing the most appropriate option.Q. .............. slowly went bankrupt.a)Exportersb)Dealersc)Bankersd)CustomersCorrect answer is option 'C'. 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 Read the source given below and answer the questions that follows:The European companies gradually gained power – first securing a variety of concessions from local courts, then the monopoly rights to trade. This resulted in a decline of the old ports of Surat and Hooghly through which local merchants had operated. Exports from these ports fell dramatically, the credit that had financed the earlier trade began drying up, and the local bankers slowly went bankrupt. In the last years of the seventeenth century, the gross value of trade that passed through Surat had been ₹16 million. By the 1740s it had slumped to ₹3 million.Answer the following MCQs by choosing the most appropriate option.Q. .............. slowly went bankrupt.a)Exportersb)Dealersc)Bankersd)CustomersCorrect answer is option 'C'. Can you explain this answer?.
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