Question : Select the option that can be used as a one-word substitute for the given group of words.
An amount of money that is paid at one time
Option 1: Advanced amount
Option 2: Credit
Option 3: Lump sum
Option 4: Mortgage
New: SSC CHSL Tier 2 answer key released | SSC CHSL 2024 Notification PDF
Recommended: How to crack SSC CHSL | SSC CHSL exam guide
Don't Miss: Month-wise Current Affairs | Upcoming government exams
Correct Answer: Lump sum
Solution : The correct choice is the third option.
Lump sum refers to an amount of money paid all at once, in a single, large payment rather than in instalments. It's often used in contexts like receiving a salary or settling a debt in full.
The meanings of the other options are as follows:
- The advanced amount doesn't specifically denote a one-time payment; it generally refers to an amount of money paid or given before it is due or before it is earned. This could be an advance payment for services or goods.
- Credit typically refers to an arrangement where goods, services, or money are received with the understanding that payment will be made later. It doesn't necessarily imply a one-time payment.
- A mortgage is a type of loan used to purchase real estate where payments are made over time, usually monthly, and doesn't represent a single payment but a series of payments over an extended period.
Related Questions
Know More about
Staff Selection Commission Combined High ...
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Get Updates Brochure
Your Staff Selection Commission Combined Higher Secondary Level Exam brochure has been successfully mailed to your registered email id “”.
