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Social Science · 2024 · 1 mark
CBSE 2024 · Region 5 · Set 1 · Q15
In one of the small villages, a farmer borrows money from the village moneylender at a high monthly interest rate but is not able to repay it back.…
In one of the small villages, a farmer borrows money from the village moneylender at a high monthly interest rate but is not able to repay it back. Next, he borrows it from a bank at a lower interest rate. Gradually he earns and pays back the loan to the moneylender and the bank. Which of the following best describes the role of the bank in this credit situation?
Official answer
(D)
The bank saves the farmer from debt-trap.
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CBSE Class 10 Social Science past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.