1.  Statement : Shallini 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 : 

I. The bank has a practice of granting loans for Rs. 1,00,000 and above.
II. The bank accepts house as collateral security against such loans.

A. Only assumption I is implicit.
B. Only assumption II is implicit.
C. Either I or II is implicit.
D. Neither I nor II is implicit.
E. Both I and II are implicit.

Answer: Option E

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.