alleryWhat share of rich urban households' loans is from informal sources?
A20 per cent
B30 per cent
C40 per cent
D10 per cent
Answer & Solution
Correct answer: D. 10 per cent
1. The poor take 85 per cent informally.
2. The rich rely mostly on formal sources.
3. Only 10 per cent of their loans are informal.
_Source: syllabus Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
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