History · From State to Empire
UGC NET December 2020 History
During the Saka-Satavahana period the range of interest on a fixed deposit (akshayanivi), as described in the inscription of Nasik Cave No. 10, was:
AFrom 6 to 9%
BFrom 9 to 12% ✓ Correct
CFrom 12 to 16%
DFrom 15 to 18%
Correct answer: (B) From 9 to 12% — The range was from 9 to 12%, so the answer is from 9 to 12%.
Explanation
★The range was from 9 to 12%, so the answer is from 9 to 12%.
★The inscription of Nasik Cave No. 10 describes interest on a fixed deposit, the akshayanivi.
★The range of interest given is from 9 to 12 per cent.
★Nasik Cave No. 10 is known as the Nahapana Vihara.
★It is the second largest vihara and contains six inscriptions of the family of Nahapana.
★So the range of interest on the fixed deposit was from 9 to 12 per cent.
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