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Statement: Shalini made an application to the bank for a loan of Rs. 1,80,000 by mortgaging her house to the bank and promised to repay it within five years. Assumptions: The bank has a practice of granting loans for Rs. 1,00,000 and above. The bank accepts house as collateral security against such loans.

Only assumption I is implicit
Only assumption II is implicit
Either I or II is implicit
Neither I nor II is implicit
Both I and II are implicit

Correct Answer: Both I and II are implicit

Explanation:

The fact that Shalini has applied for a loan of Rs. 1,80,000 implies that the bank can grant a loan above Rs. 1,00,000. So, I is implicit. II also follows directly from the statement and so is implicit.

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