Money and Credit MCQ Questions for Class 10 Social Science Chapter 3 with Answers

NCERTCOURSE.COM- Find here the NCERT/CBSE chapter-wise Multiple Choice Questions from Class 10 Social Science Economics book Chapter 3 Money and Credit with Answers Pdf free download. This may assist you to understand and check your knowledge about the chapters. Students also can take a free test of the Multiple Choice Questions of Money and Credit. Each question has four options followed by the right answer. These MCQ Questions are selected supported by the newest exam pattern as announced by CBSE.

MCQ Questions for Class 10 Social Science India and the Contemporary World Part- Economics

Q1. Which one of the following is the new way of providing loans to the mral poor?

(i) Co-operative societies
(ii) Traders
(iii) Relatives and friends
(iv) SHGs

(iv) SHGs

Q2. Which one of the following is the main source of credit for rich urban households in India ?

(i) Formal sector
(ii) Informal sector
(iii) Moneylenders
(iv) Traders

(i) Formal sector

Q3. The RBI monitors the banks are actually maintaining:

(i) Cash books
(ii) Cash balance
(iii) Cash register
(iv) None of the above

(ii) Cash balance

Q4. Grameen Bank of Bangladesh was started in

(i) 1960s
(ii) 1970s
(iii) 1980s
(iv) 1990s

(ii) 1970s

Q5. What percentage of their deposits is kept as cash by the banks in India?

(i) 25%
(ii) 20%
(iii) 15%
(iv) 10%

(iii) 15%

Q6. Which one of the following statements is most appropriate regarding transactions made in money ?

(i) It is the easiest way
(ii) It is the safest way
(iii) It is the cheapest way
(iv) It promotes trade

(iv) It promotes trade

Q7. Loans from banks and cooperatives are called:

(i) Mixed loans
(ii) Term loans
(iii) Formal loans
(iv) Informal loan

(iii) Formal loans

Q8. Which of the following is the main informal source of credit for rural households in India?

(i) Friends
(ii) Relatives
(iii) Landlords
(iv) Moneylenders

(iv) Moneylenders

Q9. Banks provide a higher rate of interest on which of the following accounts?

(i) Saving account
(ii) Current account
(iii) Fixed deposits for long period
(iv) Fixed deposits for very short period

(iii) Fixed deposits for long period

Q10. Which one of the following is a modern form of currency ?

(i) Gold
(ii) Silver
(iii) Copper
(iv) Paper notes

(iv) Paper notes

Q11. Sometimes lenders demand against loan:

(i) Payment
(ii) Cheque
(iii) Draft
(iv) Collateral

(iv) Collateral

Q12. Which one of the following is the newer way of providing loans to the rural poor, particularly women?

(i) Cooperative Banks
(ii) Grameen Banks
(iii) Self-Help Groups
(iv) Moneylenders

(iii) Self-Help Groups

Q13. Which among the following authorities issues currency notes on behalf of the government?

(i) Government of India
(ii) The State Bank of India
(iii) National Bank for Agriculture and Rural Development
(iv) Reserve Bank of India

(iv) Reserve Bank of India

Q14. Formal sources of credit do not include :

(i) Banks
(ii) Cooperatives
(iii) Employers
(iv) None of the above

(iii) Employers

Q15. Farmers usually take crop loans at the beginning of the season and repay the loan after:

(i) Sowing
(ii) Tilling
(iii) Harvesting
(iv) All the above

(iii) Harvesting

Q16. Which one of the following is a formal source of credit?

(i) Traders
(ii) Cooperative societies
(iii) Moneylenders
(iv) Friends and relatives

(ii) Cooperative societies

Q17. Money-lenders usually demand a ‘security’ from the borrower. What is the formal word used for the ‘security’, such as land, vehicle, livestock, building, etc.?

(i) Deposit
(ii) Collateral
(iii) Credit
(iv) Guarantee

(ii) Collateral

Q18. The full form of SHG is:

(i) Station House Guard
(ii) State Housing Guarantee
(iii) Self Happy Groups
(iv) Self Help Groups

(iv) Self Help Groups

Q19. Which one of the following is not a modern form of money?

(i) Demand Deposits
(ii) Paper currency
(iii) Coins
(iv) Precious metals

(iv) Precious metals

Q20. Everyone prefers to receive payments in:

(i) Goods
(ii) Cheque
(iii) Draft
(iv) Money

(iv) Money

Q21. Which of the following is not a modern form of money?

(i) Paper notes
(ii) Demand deposits
(iii) Silver coins
(iv) None of the above

(iii) Silver coins

Q22. In early ages, Indians used grains and cattle as:

(i) Money
(ii) Food
(iii) Public property
(iv) None of the above

(i) Money

Q23. Which state accounts for maximum percentage of SHGs (self-help groups) in bank credit?

(i) Andhra Pradesh
(ii) Tamil Nadu
(iii) Kerala
(iv) Karnataka

(i) Andhra Pradesh

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