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Free Online MCQ Questions for Class – 10 Social Science Economics: Money and Credit with Answers

Free Online MCQ Questions for Class 10 Social Science Economics: Money and Credit with Answers. Free Online MCQ Questions for Class 10 Social Science with Answers was Prepared Based on Latest Exam Pattern. Students can solve NCERT Class 10 Social Science Economics: Money and Credit Multiple Choice Questions with Answers to know their preparation level on Success Roar Classes Website itself.

Free Online MCQ Questions for Class -10 Social Science Economics

Money and Credit with Answers

1. Which one of the following statements is most appropriate regarding transaction made in money?
(a) It is the easiest way.
(b) It is the safest way.
(c) It is the cheapest way.
(d) It promotes trade.

2. Which one of the following is a modem form of currency?
(a) Gold
(b) Silver
(c) Copper
(d) Paper notes

3. Which among the following authorities issues currency notes on behalf of the government?
(a) Government of India
(b) The State Bank of India
(c) National Bank for Agriculture and Rural Development
(d) Reserve Bank of India

4. In which of the following systems exchange of goods is done without use of money?
(a) Credit system
(b) Barter system
(c) Banking system
(d) Collateral system

5. Banks provide a higher rate of interest on which of the following accounts?
(a) Saving account
(b) Current account
(c) Fixed deposits for long period
(d) Fixed deposits for very short period

6. Banks use the major portion of the deposits to:
(a) Keep as reserve so that people may withdraw
(b) Meet their routine expenses
(c) Extend loans
(d) Meet renovation of bank

7. What percentage of their deposits is kept as cash by the banks in India?
(a) 25%
(b) 20%
(c) 15%
(d) 10%

8. The informal source of credit does not include which one of the following?
(a) Traders
(b) Friends
(c) Cooperative Societies
(d) Moneylenders

9. Which one of the following is the new way of providing loans to the moral poor?
(a) Co-operative societies
(b) Traders
(c) Relatives and friends
(d) SHGs

Question 10. Why is currency accepted as a medium of exchange?
(a) Because the currency is authorised by the government of the country.
(b) Because it is liked by the people who use it.
(c) Because the use of currency has its origin in ancient times.
(d) Because the currency is authorised by the World Bank.

MCQ Questions for CBSE Class 10 Social Science Economics: Money and Credit

Answer Key

1. (a) 2. (d) 3. (d) 4. (b) 5. (c) 6. (c) 7. (c) 8. (c) 9. (d) 10. (a)

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