Question

Ram and Mohan are small farmers. Ram has taken credit at 1.5% per month from a

trader while Mohan has taken credit at 9% per annum from bank on the same amount.

Who is better off? 1

(a) Ram is better because he has to do no paperwork.

(b) Mohan is better because his interest payment is less.

(c) Ram is better because he has not paid any collateral.

(d) Both Ram and Mohan are equal so no one is better off. ​

Answer 1

Answer:

b) mohan is better because his interest payments is less

Answer 2

Explanation:

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