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Types of Borrowing

The local tra...

Question

The local trader benefits by buying Asim's product at ________ less and earning interest on the loan.

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Solution

The local trader benefits by buying Asim's product at Rs 25 per Chikankari piece less and earning interest on the loan.

Explanation - The local trader is taking undue advantage of Asim two ways, firstly, by paying him Rs 25 less per piece than the market rate and secondly, by earning a hefty interest on the loan given to him.

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