“Irfaan (a student) borrows ₹ 80,000 to finance his college fee. He plans to begin repaying the loan six months after his graduation, making payments over a span of ten years.”
Based on the above text, identify the indicated function of money. (Choose the correct option)
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- Medium of Exchange
- Unit of Account
- Standard of Deferred Payments
- Store of Value
The Correct Option is C
Solution and Explanation
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