answer this...immidietly...
Attachments:
Answers
Answered by
1
What do people do with the extra cash? They deposit it with the banks by opening a bank account in their name. Banks accept the deposits and also pay an amount as interest on the deposits. In this way people's money is safe with the banks and it earns an amount as interest.
and they give some part of it to the poor
Answered by
2
Explanation:
(a) The deposit in the bank account that can be withdrawn on demand is called demand deposit.
(b) The advantages of depositing cash money in banks are
(i) Money is safe in the bank
(ii) Banks provide interest on money.
Similar questions