Short Answer Type
Long Answer TypeExplain any four terms of credit with examples.
Four terms of credit are-
(i) Interest rate- Every loan agreement specifies an interest rate which the borrower must pay to the lender along with the repayment of the principal.
(ii) Collateral- It is an asset that the borrower owns such as land, building, vehicle, live stocks deposits with the banks and uses this as a guarantee to a lender until the loan is repaid.
(iii) Documentation-It is related to identification such as employment records and salary.
(iv) Mode of repayment- This refers to the manner in which loan would be repaid.
Explain any four ideas of Liberal Nationalists in the economic sphere.
OR
Explain any four ways in which teachers and students organised resistance against the French in Vietnam.
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