SBI Clerk Prelims Full Mock Test 06

1. Read the following passage carefully and answer the questions given after it. When Meena opened a small tailoring unit in her town, she kept all her accounts in a notebook. Every sale, every bill for thread and cloth, and every payment to the two women who worked with her went into neat columns. The notebook worked well until she applied for a loan to buy two more sewing machines. The bank officer was polite but firm: he needed proof of her income, and a handwritten notebook was hard to verify. On the officer's advice, Meena began accepting payments through a QR code and depositing her cash sales in the bank every evening. Within six months, her bank statement told the story her notebook could not: a steady flow of income, growing month by month. When she applied again, the loan was approved in a week, and at a lower rate of interest than she had expected. Meena's experience is shared by many small business owners. Their businesses are often profitable, but because their earnings are in cash, they have no record that a lender can rely on. Digital payments create such a record automatically. They also reduce the risk of keeping large amounts of cash and make it easier to separate business money from household money. However, the shift is not free of problems. Some customers still prefer cash, small charges on certain transactions can add up, and a weak mobile network can hold up a payment when the shop is busy. Meena still keeps her notebook, but now it is the bank statement that opens doors.

   Q1.Why was Meena's first loan application not approved immediately?

   • A.Her handwritten notebook was hard for the bank to verify as proof of income.
   • B.Her business was running at a loss.
   • C.She had too many employees.
   • D.The bank had stopped giving loans to tailors.
   • E.She did not want to buy new machines.

2. Q2.What did Meena do on the bank officer's advice?

   • A.She closed her tailoring unit.
   • B.She stopped keeping accounts.
   • C.She borrowed from a moneylender.
   • D.She accepted payments through a QR code and deposited cash sales daily.
   • E.She hired an accountant.

3. Q3.What happened when Meena applied for the loan the second time?

   • A.She was given a higher interest rate.
   • B.It was rejected again.
   • C.It was approved in a week at a lower interest rate than she expected.
   • D.She was asked to provide her notebook.
   • E.It was approved only after a year.

Start the test to answer these. Correct answers and explanations are shown after you submit.