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azamat
3 years ago
12

Meghana has taken a loan of 6 lakhs from the bank to purchase a house. The annual

Social Studies
1 answer:
lorasvet [3.4K]3 years ago
4 0

Answer:

C.

Formal source of loan

Explanation:

From the loan Meghana took from the bank, it showed that, she obtained it from an official source which happens to be a loan. The bank do not run a charity organisation but a full fledged business with other customer's money.

<em>In other to meet up with the expenses and still pay interest to people who deposited money in their bank, there is need to charge interest to those who took out money from them as loan.</em>

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