Money And Credit Class 10 MCQ Quiz – Test Your Knowledge

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Are you preparing for your CBSE Class 10 Social Science board exam? This MCQ quiz on "Money and Credit" will help you revise key concepts like forms of money, the role of credit, formal and informal sources of credit, and the impact of credit on the economy.

About the Quiz

Chapter Name: Money and Credit
Subject: Social Science (Economics)
Book: NCERT Class 10 Economics
Question Type: Multiple Choice Questions (MCQs)
Leaderboard: Yes (Check Your Rank!)

Why Take This Quiz?

✔ Quick revision for CBSE exams
✔ Based on NCERT textbook concepts
✔ Leaderboard to track top performers

Click Below to Start the Quiz!

Chapter 3 - Money and Credit

1 / 15

What are the main terms of credit?

Interest rate, collateral, and documentation requirement

Interest rate, mode of repayment, and time period

Interest rate, collateral, documentation requirement, mode of repayment, and time period

Collateral, documentation requirement, and mode of repayment

2 / 15

What is the role of Self-Help Groups (SHGs) in rural society?

They provide loans to small-scale industries and rural households.

They provide a platform for discussing and acting on social issues.

They help borrowers overcome the problem of lack of collateral.

All of the above.

3 / 15

Rita has taken a loan of Rs.7 lakhs from the bank to purchase a car. The annual interest rate on the loan is 14.5 percent and the loan is to be repaid in 3 years in monthly installments. The bank retained the papers of the new car as collateral, which will be returned to Rita only when she repays the entire loan with interest.

Analyze the loan information given above, considering one of the following correct options.

Deposit criteria

Mode of re-payment

Interest on loan

Terms of credit

4 / 15

What is a "debt trap"?

A situation where an individual or organization has too many assets and cannot manage them

A situation where an individual or organization has too much money and cannot spend it

A situation where an individual or organization has too many loans and cannot repay them

A situation where an individual or organization becomes trapped in a cycle of debt that they are unable to escape from

5 / 15

What is a potential negative economic implication of an economy without the concept of credit?

Limited access to funds for starting businesses or making investments

Increased financial flexibility and convenience

Increased access to funds for starting businesses

Increased capacity of savings

6 / 15

A porter making pots, wants to exchange pots for wheat. Luckily, he meets a farmer who has wheat and is willing to exchange it for pots. What is this situation known as?

Also See: CBSE Class 10 Supplementary Result 2025 Declared: Check Pass Percentage, Direct Link

None of the above

Double incidence of wants

Incidence of wants

Barter system of wants

7 / 15

In India, who issues the currency notes on behalf of the central government?

Finance Minister of India

State Bank of India

None

Reserve Bank of India

8 / 15

What is the primary function of money?

All of the above

Standard of deferred payments

Medium of exchange

Credit creation

9 / 15

Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods, or services in return for the promise of _____.

No payment

Future payment

Payment made

Collateral

10 / 15

Mohan is an agricultural laborer. There are several months in a year when he has no work and needs credit to meet his daily expenses. He depends upon his employer, the landowner for credit who charges an interest rate of 5 percent per month. Mohan repays the money by working physically for the landowner on his farmland. Over the years his debt will –

Reduce - as the amount equivalent to his salary is being counted as monthly repayment

Remain constant - as he is working for the employer but is repaying less

Increase - because of increasing interest and non-payment of the monthly amount

Be totally repaid - as he is repaying the debt in the form of physical labor

11 / 15

What are the two forms of modern currency?

Paper notes and mobile wallets

Gold and silver

Coins and credit cards

Paper notes and coins

12 / 15

What are demand deposits?

Deposits that earn a higher interest rate

Deposits that can be withdrawn only after a fixed period

Deposits that are used for loans

Deposits that can be withdrawn on demand

13 / 15

Which one of the following options describes ‘Collateral’?

Double coincidence of wants

Certain products for barter

Trade in barter

Asset as a guarantee for a loan

14 / 15

In SHGs most of the decisions regarding savings and loan activities are taken by _____.

Bank

Members

LIC

Government organization

15 / 15

Rehman is a poor agricultural labor and needs a loan for cultivation on his small piece of land.

Which of the following would DEFINITELY offer him a fair interest rate and flexible terms of credit?

Also See: Master Minerals and Energy Resources Class 10 with Key Questions and Answers

commercial bank

cooperative society

village moneylender

rich landowner

Your score is

The average score is 67%

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Pos.	Name	Score	Duration	Points
1	Ankush Deo Rajput	100 %	1 minutes 12 seconds	15
2	qwerty	100 %	1 minutes 13 seconds	15
3	Steve Harrington	100 %	1 minutes 25 seconds	15
4	someone	100 %	2 minutes 41 seconds	15
5	SARASWATI	100 %	3 minutes 44 seconds	15
6	Ullu	100 %	5 minutes	15
7	Fff	93 %	1 minutes 6 seconds	14
8	pk	93 %	1 minutes 16 seconds	14
9	Sia	93 %	1 minutes 20 seconds	14
10	V	93 %	2 minutes 10 seconds	14
11	Pranav	93 %	3 minutes 19 seconds	14
12	Guuuggttty	87 %	1 minutes 18 seconds	13
13	oooppp	87 %	1 minutes 24 seconds	13
14	fd	87 %	2 minutes 36 seconds	13
15	rose	87 %	3 minutes	13
16	tanununun	87 %	3 minutes 2 seconds	13
17	Uytc	87 %	3 minutes 9 seconds	13
18	V	87 %	3 minutes 32 seconds	13
19	ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh	87 %	4 minutes 58 seconds	13
20	vd	87 %	5 minutes 55 seconds	13
21	prarthana	87 %	7 minutes 16 seconds	13
22	bbb	87 %	7 minutes 21 seconds	13
23	ahhhhhhhhhhhhhhhhhhhhhhhhhh	87 %	8 minutes 47 seconds	13
24	ghanasyam	87 %	27 minutes 32 seconds	13
25	Fyyugg	80 %	1 minutes 26 seconds	12
26	Tvisha	80 %	1 minutes 44 seconds	12
27	Agrawal	80 %	2 minutes 22 seconds	12
28	lucky	80 %	3 minutes 11 seconds	12
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30	Umar	80 %	3 minutes 33 seconds	12
31	Albi	80 %	3 minutes 40 seconds	12
32	ssssssssssss	80 %	3 minutes 45 seconds	12
33	Sia	80 %	4 minutes 10 seconds	12
34	..	80 %	4 minutes 28 seconds	12
35	sagar	80 %	6 minutes 23 seconds	12
36	Amit	80 %	7 minutes 17 seconds	12
37	Pridba	80 %	8 minutes 3 seconds	12
38	tyhj,	73 %	2 minutes 12 seconds	11
39	n	73 %	2 minutes 16 seconds	11
40	Iy	73 %	3 minutes 12 seconds	11
41	vidya	73 %	3 minutes 22 seconds	11
42	Kum s il	73 %	3 minutes 33 seconds	11
43	U	73 %	4 minutes 4 seconds	11
44	Pranav	73 %	4 minutes 7 seconds	11
45	ria	73 %	4 minutes 18 seconds	11
46	Sana	73 %	4 minutes 18 seconds	11
47	aads	73 %	5 minutes 18 seconds	11
48	ANIL	73 %	5 minutes 55 seconds	11
49	Ishan	73 %	6 minutes 7 seconds	11
50	Tanu	73 %	6 minutes 9 seconds	11
51	Harshita	73 %	6 minutes 46 seconds	11
52	Dolly	73 %	7 minutes 34 seconds	11
53	Vishwajit atnure	73 %	9 minutes 20 seconds	11
54	jagath	73 %	11 minutes 32 seconds	11
55	sakii	67 %	49 seconds	10
56	naisha	67 %	2 minutes 25 seconds	10
57	DHRUV	67 %	2 minutes 43 seconds	10
58	sanvi ji	67 %	3 minutes 3 seconds	10
59	tanu	67 %	3 minutes 45 seconds	10
60	s	67 %	4 minutes 25 seconds	10
61	Er	67 %	4 minutes 29 seconds	10
62	Fgg	67 %	5 minutes 8 seconds	10
63	Steve Harrington	67 %	5 minutes 13 seconds	10
64	sreeram	67 %	6 minutes 45 seconds	10
65	Aryamaan	60 %	3 minutes 27 seconds	9
66	qwertyuiop[asdfghjklzxcvbnm	60 %	4 minutes 24 seconds	9
67	Rohit	60 %	11 minutes 10 seconds	9
68	Gh	60 %	12 minutes 42 seconds	9
69	lob	53 %	1 minutes 47 seconds	8
70	SWARIT	53 %	1 minutes 59 seconds	8
71	Ankush	53 %	2 minutes 44 seconds	8
72	g	53 %	1 hours 42 minutes 12 seconds	8
73	SAKII	47 %	58 seconds	7
74	Dipesh	47 %	2 minutes 18 seconds	7
75	pratheek	47 %	3 minutes 47 seconds	7
76	Meenu	47 %	4 minutes 2 seconds	7
77	Daksh Goyal	47 %	5 minutes 26 seconds	7
78	ansh	47 %	5 minutes 30 seconds	7
79	R	47 %	5 minutes 40 seconds	7
80	Manas vi	47 %	7 minutes 23 seconds	7
81	S	47 %	8 minutes 57 seconds	7
82	gujjar123	40 %	1 minutes 39 seconds	6
83	Dad	40 %	3 minutes 19 seconds	6
84	Janvi	40 %	3 minutes 29 seconds	6
85	Ff	40 %	4 minutes 2 seconds	6
86	Umra	40 %	10 minutes 50 seconds	6
87	Momo	33 %	3 minutes 20 seconds	5
88	Kumail	33 %	5 minutes 51 seconds	5
89	AFIA SHAIKH	27 %	1 minutes 18 seconds	4
90	ee	20 %	3 minutes 43 seconds	3
91	gujjar	13 %	44 seconds	2
92	😂😂 lol	13 %	1 minutes 2 seconds	2
93	gujjar	13 %	7 minutes 1 seconds	2
94	udit	7 %	57 seconds	1
95	MANU	0 %	18 minutes 57 seconds	0

Also See: Mijbil the Otter: Class 10 Questions & Answers

Key Topics Covered in the Quiz

✔ Functions of Money
✔ Types of Credit – Formal & Informal
✔ Role of Banks & Self Help Groups (SHGs)
✔ Impact of Credit on Borrowers
✔ Collateral and Terms of Credit

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Money and Credit Class 10 MCQ Quiz – Test Your Knowledge

About the Quiz

Why Take This Quiz?

Leaderboard – Top Scorers

Key Topics Covered in the Quiz

More Class 10 Social Science MCQ Quizzes

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About the Quiz

Why Take This Quiz?

Leaderboard – Top Scorers

Key Topics Covered in the Quiz

More Class 10 Social Science MCQ Quizzes

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