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 two forms of modern currency?

2 / 15

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

3 / 15

Rohan has taken a loan of Rs.5 lakhs from the bank to purchase a house at a 12% rate of interest. He has to submit papers about the new house and salary records to the bank. What is this process called?

4 / 15

How do banks earn income from deposits?

5 / 15

Most agricultural laborers like Mohan depend upon loans from the informal sector. Which of the following statements about this sector is correct –

6 / 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.

7 / 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?

8 / 15

What is a "debt trap"?

9 / 15

What is the main difference between formal and informal sources of credit?

10 / 15

Which one of the following options describes ‘Collateral’?

11 / 15

What is the primary function of money?

12 / 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?

13 / 15

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

14 / 15

Find the Incorrect option

15 / 15

What are the main terms of credit?

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1Whoo100 %37 seconds15
2Bhavika100 %41 seconds15
3M.Bas100 %45 seconds15
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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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