Q4 of 11 Page 87

In what ways have cheques made exchange of money more convenient?

There are many ways through which cheques made exchange of money more convenient –

1. Making payments and sending money becomes easy when the person or the company is in the different city.


2. Cheques are the convenient mode of sending and receiving money for the business purposes.


3. Cheques can also be sent through post.


4. Cheques are useful when the transaction to be made is high.


More from this chapter

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2

Can there be any difficulties or disadvantages in keeping money in a bank? Think and write.

 3

Suppose you need Rs. 2000. You fill a cheque, and give it to your sister and send her to get the money in cash.

 5

Only a part of the total deposits is kept as cash in the bank-safe. Why is this so and how does this benefit the bank?

 6

If a very large number of account-holders do not wish to keep their money in the bank, how will it affect the bank’s working?