alleryOf these, which is NOT an example of credit?
ABuying with cash from your own savings
BBank loan
CCredit card purchase
DHire purchase agreement
Answer & Solution
Correct answer: A. Buying with cash from your own savings
Credit involves borrowing → repaying later.
Cash payment from own savings is NOT credit (no borrowing).
Bank loan, credit card, hire purchase, EMI on phone, mortgage — all credit transactions.
Each has different terms (interest, tenure, collateral).
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