Question

1
2. How are high interest rates on loans harmful?
Ans. 1. High interest rates force the borrowers to pay a la​

Answer 1

Answer:

the high interest rates on loans are harmful because this may discourage poor people to avail loans . This high rate of interest is usually imposed by informal source of credit (eg . moneylenders) . this may also lead to debt trap

Explanation:

Answer 2

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