Mr. Dhiman took a loan of Rs. 20 Lakhs Mr. Dhiman took a loan of Rs. 20 Lakhs from bank to purchases a house. The annual rate of interest on the load is 12% per annum and loan is to be repaid in 10 years in instalments. The bank retains the papers of new houses as collateral, which will be returned to Mr. Dhiman only when he repays the entire loan amount with interest. Analyze the loan information given above and choose the right option for the same. (A) Mode of repayment (B) Interest on loan (C) Terms of Credit (D) collateral

Mr. Dhiman took a loan of Rs. 20 Lakhs Mr. Dhiman took a loan of Rs. 2

1.	Mr. Dhiman took a loan of Rs. 20 Lakhs Mr. Dhiman took a loan of Rs. 20 Lakhs from bank to purchases a house. The annual rate of interest on the load is 12% per annum and loan is to be repaid in 10 years in instalments. The bank retains the papers of new houses as collateral, which will be returned to Mr. Dhiman only when he repays the entire loan amount with interest. Analyze the loan information given above and choose the right option for the same. (A) Mode of repayment (B) Interest on loan (C) Terms of Credit (D) collateral
Answer» Correct option is (C) Terms of Credit

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