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
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Lump sum.
Correct word: Lump sum
Meaning: A single payment made at one time, rather than in installments
Example: She received a lump sum on retiring from her job.
Meaning of the other words:
Advanced amount: An amount paid in advance (not necessarily one-time or full)
Credit: Buying something with the promise to pay later
Mortgage: A loan taken to buy property, often repaid in installments
Hence, the chosen option is the correct one-word substitution.