Question

Give the summary of money and credit

Answer 1

Answer:

People deposit their money in bank and get some rate of interest as extra income. Banks hold only some percentage of their deposit in bank. ... Credit is an agreement in which is created when a person gives money and goods to the needy person with the promise of to repay that with some rate of interest.

Answer 2

Answer:

Explanation:

Image result for money and credit summary

People need only some money at a point of time. So, people can deposit extra money and earn extra money, which is given on money already depositing in bank. ... Credit is an agreement in which is created when a person gives money and goods to the needy person with the promise of to repay that with some rate of interest.