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Demand Deposit

What do we ca...

Question

What do we call the money deposited by people in banks?

A

Interest

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B

Savings

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C

Return

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D

Borrowing

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Solution

The correct option is B Savings
Banks allow people to deposit their money as savings. These savings earn them a small interest when withdrawn. The deposits made can be withdrawn at any time. This is called demand deposit.

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