Correct Answer & Explanation
Option B
• 'Default' means failure to fulfill an obligation, especially to repay a loan or appear in a court of law.
• 'Winning a lottery' is a positive event, not a failure of obligation.
• 'Failing to pay a loan installment' directly aligns with the definition of 'default' as it is a failure to fulfill a financial obligation.
• 'Achieving a goal' is a success, not a failure.
• 'Receiving a promotion' is a positive career advancement, not a failure.
• Hence, failing to pay a loan installment is the best illustration of a 'default'.