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Question

A debt whose principal amount is not refunded by the government but only the interest amount is to be paid regularly is called


  1. External debt

  2. Internal debt

  3. Redeemable debt

  4. Irredeemable debt


Solution

The correct option is D

Irredeemable debt


An irredeemable debt is one whose principal amount is not refunded by the government but it pays the interest regularly on such loans for the period of its duration.

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