Q. What was the Normal rate of interest on loans during the Guptas period
(a) 20%
(b) 25%
(c) 10%
(d) 15%
Ans: (d) 15%
Explanation: The correct answer is (d) 15%.
During the Gupta period in ancient India, the normal rate of interest on loans was around 15%. This rate of interest was commonly applied to loans and financial transactions during that time.
It is worth noting that interest rates could vary depending on specific circumstances and agreements between the parties involved. However, the prevailing standard or average rate of interest was generally around 15%.
Interest rates during the Gupta period reflected the economic and financial practices of that time, providing an understanding of the monetary system and commercial activities prevalent during the Gupta Empire.