Randhir asked Mugdha, " Can i get Rs 50,000 from you, i will return it back to you on the 1st of the coming month". According to you, which function of money is being referred to here?

Standard of deferred payments

The correct answer is Option 4: Standard of deferred payments

The standard of deferred payments function of money refers to its role in facilitating transactions where payment is made at a future date. In this case, Randhir is asking to borrow Rs 50,000 with the promise of repaying it on the 1st of the coming month, demonstrating the use of money as a standard for future payments.