Q21 of 32 Page 46

Let us write, whether the following statements are true or false:

(i) A man takes a loan is called debtor


(ii) If the principal and the rate of simple interest in percent per annum be constants, then the total interest and the time are inverse relation.

(i) True


NOTE: The person or organization who gives money as loan, is called creditor and the person or organization who takes money as loan is called ‘debtor’.


(ii) False


Since,


If Principal and rate are constant then


Interest will be directly proportional to time.


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(i) A man who gives a loan is called___________.


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