Question

21 Ram and Shyam are small farmers who have
taken loans of $ 20,000 from different parties.
Ram has taken credit at 1.5% per month interest
from a trader while Shyam has taken credit at
8% per annum from a cooperative.
Analyse the loan info. given above, considering
one of the following correct option.
(a) Shyam is better because he receives more interest.
(b) Ram is better as he does no paper work.
(c) Shyam is worse off as he pays more interest.
(d) Ram is worse off as he pays more interest.​

Answer 1

Answer:

d) cooperatives as they do not require collateral

Answer 2

Answer:

(c )..part is the answer