{"id":594396,"date":"2023-06-18T15:23:31","date_gmt":"2023-06-18T09:53:31","guid":{"rendered":"https:\/\/infinitylearn.com\/surge\/question\/megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purchase-a-house-the-annual-interest-rate-on-a-loan-is-12-percent-which-is-to-be-repaid-in-10-years-in-monthly-instalments-megha-had-to-submit\/"},"modified":"2025-06-26T11:25:10","modified_gmt":"2025-06-26T05:55:10","slug":"megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purchase-a-house-the-annual-interest-rate-on-a-loan-is-12-percent-which-is-to-be-repaid-in-10-years-in-monthly-instalments-megha-had-to-submit","status":"publish","type":"questions","link":"https:\/\/infinitylearn.com\/surge\/question\/economics\/megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purcha\/","title":{"rendered":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation"},"content":{"rendered":"","protected":false},"author":1,"template":"","meta":{"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation","custom_permalink":"question\/economics\/megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purcha\/"},"categories":[],"acf":{"question":"

Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.<\/span><\/p>

Match the columns <\/span><\/p>

Matrix:<\/span><\/p>

 <\/span><\/p><\/td>

Column I<\/span><\/p><\/td>

 <\/span><\/p><\/td>

Column II<\/span><\/p><\/td><\/tr>

(a)<\/span><\/p><\/td>

Loan amount (in Rupees)<\/span><\/p><\/td>

(i)<\/span><\/p><\/td>

EMIS or instalments<\/span><\/p><\/td><\/tr>

(b)<\/span><\/p><\/td>

Duration of loan<\/span><\/p><\/td>

(ii)<\/span><\/p><\/td>

12% per annum.<\/span><\/p><\/td><\/tr>

(c)<\/span><\/p><\/td>

Documents required <\/span><\/p><\/td>

(iii)<\/span><\/p><\/td>

5 lakhs<\/span><\/p><\/td><\/tr>

(d)<\/span><\/p><\/td>

Interest rate <\/span><\/p><\/td>

(iv)<\/span><\/p><\/td>

10 years<\/span><\/p><\/td><\/tr>

(e)<\/span><\/p><\/td>

Mode of repayment<\/span><\/p><\/td>

(v)<\/span><\/p><\/td>

Papers of the concerned house<\/span><\/p><\/td><\/tr>

(f)<\/span><\/p><\/td>

Collateral<\/span><\/p><\/td>

(vi)<\/span><\/p><\/td>

Proof of sal. The reforestation<\/span><\/p><\/td><\/tr><\/tbody><\/table>

<\/p>

<\/p><\/spanstyle=\"font-family:'timesnewroman';-aw-import:spaces\"><\/pstyle=\"margin-top:0pt;margin-bottom:0pt;line-height:normal\"><\/spanstyle=\"font-family:'timesnewroman';-aw-import:ignore\"><\/pstyle=\"margin-top:0pt;margin-bottom:0pt;text-align:justify;line-height:normal\">","options":[{"option":"a-i,b-ii,c-ii,d-iv,e-v,f-vi<\/span>","correct":false},{"option":"a-ii,b-iv,c-v,d-vi,e-i,f-iii<\/span>","correct":false},{"option":"a-iii,b-iv,c-vi,d-ii,e-i,f-v<\/span>","correct":true},{"option":"a-vi,b-iv,c-ii,d-i,e-v,f-iii<\/span> <\/span>","correct":false}],"solution":"1) Loan amount - The sum of money that you are currently obligated to pay us under this mortgage.<\/span>
2) Duration of the loan- loan duration means the time frame starts when the loan is drawn down and ends when it is fully repaid.<\/span>
3) Documents required-<\/span>  <\/span>Before borrowing money, borrowers thoroughly examine the borrower's employment history and income documents.<\/span>
4) Interest rate- The interest rate is the cost of borrowing and lending money, as stated in the document.<\/span>
5) Mode of repayment- It specifies how long the loan must be repaid. Long-term loans can be paid off over twelve, six, or even twelve months.<\/span>
6) Collateral- Collateral is an asset the borrower owns and uses as a guarantee to a lender up until the loan is repaid. Examples include land, buildings, vehicles, livestock, and bank deposits. The lender has the right to sell the asset or collateral as collateral if the borrower defaults on the loan.<\/span>
 <\/span>","subject":"Economics"},"yoast_head":"\nMegha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation - Infinity Learn by Sri Chaitanya<\/title>\n<meta name=\"description\" content=\"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infinitylearn.com\/surge\/question\/economics\/megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purcha\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation - Infinity Learn by Sri Chaitanya\" \/>\n<meta property=\"og:description\" content=\"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infinitylearn.com\/surge\/question\/economics\/megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purcha\/\" \/>\n<meta property=\"og:site_name\" content=\"Infinity Learn by Sri Chaitanya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/InfinityLearn.SriChaitanya\/\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-26T05:55:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infinitylearn.com\/surge\/wp-content\/uploads\/2025\/04\/infinitylearn.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1008\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@InfinityLearn_\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation - Infinity Learn by Sri Chaitanya","description":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infinitylearn.com\/surge\/question\/economics\/megha-has-taken-a-loan-of-rs-5-lakhs-from-the-bank-to-purcha\/","og_locale":"en_US","og_type":"article","og_title":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation - Infinity Learn by Sri Chaitanya","og_description":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. 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The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. The reforestation - Infinity Learn by Sri Chaitanya","isPartOf":{"@id":"https:\/\/infinitylearn.com\/surge\/#website"},"datePublished":"2023-06-18T09:53:31+00:00","dateModified":"2025-06-26T05:55:10+00:00","description":"Megha has taken a loan of Rs 5 lakhs from the bank to purchase a house. The annual interest rate on a loan is 12 percent, which is to be repaid in 10 years in monthly instalments. Megha had to submit to the bank documents showing her employment records and salary before the bank agreed to give her the loan. The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. 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The bank retained as collateral the papers of the new house, which will be returned to Megha only when she repays the entire loan with interest.Match the columns Matrix:\u00a0Column I\u00a0Column II(a)Loan amount (in Rupees)(i)EMIS or instalments(b)Duration of loan(ii)12% per annum.(c)Documents required (iii)5 lakhs(d)Interest rate (iv)10 years(e)Mode of repayment(v)Papers of the concerned house(f)Collateral(vi)Proof of sal. 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