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Mr.Y needs a loan for buying fertilisers to enhance crop production. He borrows loan from a bank as it is

i) Cheap and affordable since rate of interest is lower

ii) free from falling into a debt trap

iii) going to ask him to sell his property

iv) free of interest

a) Only i

b) Iii and iv

c) i and ii

d) Only ii

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Best answer

Correct answer is (c) i and ii

Mr.Y needs a loan for buying fertilisers to enhance crop production. He borrows loan from a bank as it is (i) Cheap and affordable since rate of interest is lower and (ii) free from falling into a debt trap.

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