Amit is a hardworking man who wishes to start his own business, but he needs some extra money to be able to do so. As Amit’s friend, what would you suggest him to do?

Print his own money

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Sell everything he has

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Avail loan from the local moneylender

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Avail loan from a registered bank

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D Avail loan from a registered bank
As Amit's friend, it would be advisable to suggest that he take a loan from a registered bank, as the credit taken safe and recognised. Since the Reserve Bank of India controls the interest rate on loans, banks charge nominal interest rates compared to moneylenders.

Suggest Corrections

Similar questions

Q. Amit asked his teacher that if muscles also contribute to our body weight. What do you think his teacher would have told him?

Q. Mr. A wants to start his own business and is developing business plan of innovation. He is doing so for __________.

Q. Mr. Varun wanted to start a bakery shop with limited money. What kind of business organization you would suggest him?

Amit from Hyderabad has got admission to a college in Bengaluru. He has to share his room with another boy. When he arrives at the hostel he learns that his room mate has gone home for a few days. Based on his observations of the room, Amit writes a letter to his friend, Sumit, about his new room mate. (You may use some of the expressions suggested in C.3.) As Amit, write the letter.

Q. Mr. Bajaj is returning from a party during which he consumed a few alcoholic drinks. He wants to drive back home, claiming he feels fit to drive on his own. If you were his friend, what would you advise him to do to ensure he reaches home safely?

Join BYJU'S Learning Program