Question

Amrita is a government employee and belongs to a rich urban household whereas Rani works as a helper on a construction site and comes from a poor rural household. Both Material downloaded from myCBSEguide.com. 3 / 17 have a crisis at home and wish to take loan. Create a list of arguments explaining who between the two would successfully be able to get the loan from a formal source. Why?

Answer 1

Amrita will get the loan successfully bcoz before giving the loan bank checks the current balance in the account of the person as well as his or her source of income. Bank checks this in order to know whether that person will be able to return the amount to the bank or not.

Though both have a source of income but Rani's source of income is periodic. She will be employed only when there is a construction project and will get income at that time only.
But Amrita is a government employee and has a continuous source of income rather than a periodic one.

Hope it helps.
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Answer 2

Both will be able to get from formal source of loan. But Rani has higher chance of getting the loan but according to us if she is educated she will take the loan.  If she is illiterate then she might go for informal source of loan. But amritha will however will only take formal source of loan.

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