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

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

2 / 15

What is the primary function of money?

3 / 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 _____.

4 / 15

What are the main terms of credit?

5 / 15

How do banks earn income from deposits?

6 / 15

What are the two forms of modern currency?

7 / 15

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

8 / 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?

9 / 15

How do SHGs help borrowers overcome the problem of lack of collateral?

10 / 15

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

11 / 15

What are demand deposits?

12 / 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?

13 / 15

Which one of the following options describes ‘Collateral’?

14 / 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.

15 / 15

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

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The average score is 62%

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Pos.NameScoreDurationPoints
1Whoo100 %37 seconds15
2Bhavika100 %41 seconds15
3hi100 %1 minutes15
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5Jobi100 %1 minutes 21 seconds15
6Praniiii❤️🥴🧿100 %1 minutes 30 seconds15
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13Swamy yee Sharanam Ayappa100 %2 minutes 56 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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