Class 10 Exam > Class 10 Questions > Find the incorrect option:a)Banks accept dep...
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Find the incorrect option:
- a)Banks accept deposit and also pay an amount as interest.
- b)People's money is safe with banks.
- c)Banks provide loans only to profit-making businesses.
- d)It is easy for individuals to get credit who have savings and current account in the banks.
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Find the incorrect option:a)Banks accept deposit and also pay an amou...
**Incorrect Option: c) Banks provide loans only to profit-making businesses**
Explanation:
Banks are financial institutions that offer a wide range of services to individuals, businesses, and other organizations. While they do provide loans to profit-making businesses, it is not the only type of loan they offer. Banks also provide loans to individuals, non-profit organizations, and government entities. Therefore, option c) is incorrect.
**Banks provide loans to profit-making businesses:**
Banks do provide loans to profit-making businesses as a way to support their growth and expansion. These loans are often used for various purposes such as purchasing inventory, funding capital investments, expanding operations, or meeting working capital needs. By offering loans to businesses, banks contribute to the development of the economy and help create employment opportunities.
**Banks provide loans to individuals:**
In addition to providing loans to businesses, banks also offer various types of loans to individuals. These loans can be used for personal purposes such as purchasing a house, buying a car, financing education, or covering medical expenses. Individuals can approach banks to borrow money based on their creditworthiness and ability to repay the loan.
**Banks provide loans to non-profit organizations and government entities:**
Banks also extend loans to non-profit organizations and government entities. Non-profit organizations may require loans to support their operations, fund projects, or meet specific financial needs. Similarly, governments may seek loans from banks to finance infrastructure development, public projects, or other initiatives.
**Conclusion:**
In conclusion, option c) is incorrect because banks provide loans not only to profit-making businesses but also to individuals, non-profit organizations, and government entities. Banks play a crucial role in the economy by facilitating financial transactions, accepting deposits, providing credit, and ensuring the safety of people's money.
Explanation:
Banks are financial institutions that offer a wide range of services to individuals, businesses, and other organizations. While they do provide loans to profit-making businesses, it is not the only type of loan they offer. Banks also provide loans to individuals, non-profit organizations, and government entities. Therefore, option c) is incorrect.
**Banks provide loans to profit-making businesses:**
Banks do provide loans to profit-making businesses as a way to support their growth and expansion. These loans are often used for various purposes such as purchasing inventory, funding capital investments, expanding operations, or meeting working capital needs. By offering loans to businesses, banks contribute to the development of the economy and help create employment opportunities.
**Banks provide loans to individuals:**
In addition to providing loans to businesses, banks also offer various types of loans to individuals. These loans can be used for personal purposes such as purchasing a house, buying a car, financing education, or covering medical expenses. Individuals can approach banks to borrow money based on their creditworthiness and ability to repay the loan.
**Banks provide loans to non-profit organizations and government entities:**
Banks also extend loans to non-profit organizations and government entities. Non-profit organizations may require loans to support their operations, fund projects, or meet specific financial needs. Similarly, governments may seek loans from banks to finance infrastructure development, public projects, or other initiatives.
**Conclusion:**
In conclusion, option c) is incorrect because banks provide loans not only to profit-making businesses but also to individuals, non-profit organizations, and government entities. Banks play a crucial role in the economy by facilitating financial transactions, accepting deposits, providing credit, and ensuring the safety of people's money.
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Find the incorrect option:a)Banks accept deposit and also pay an amount as interest.b)People's money is safe with banks.c)Banks provide loans only to profit-making businesses.d)It is easy for individuals to get credit who have savings and current account in the banks.Correct answer is option 'C'. Can you explain this answer?
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Find the incorrect option:a)Banks accept deposit and also pay an amount as interest.b)People's money is safe with banks.c)Banks provide loans only to profit-making businesses.d)It is easy for individuals to get credit who have savings and current account in the banks.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Find the incorrect option:a)Banks accept deposit and also pay an amount as interest.b)People's money is safe with banks.c)Banks provide loans only to profit-making businesses.d)It is easy for individuals to get credit who have savings and current account in the banks.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Find the incorrect option:a)Banks accept deposit and also pay an amount as interest.b)People's money is safe with banks.c)Banks provide loans only to profit-making businesses.d)It is easy for individuals to get credit who have savings and current account in the banks.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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