Assertion (A): Zamindars defaulted on payments in the Permanent Settlement. Reason (R): Prices of the agricultural produce were low.

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(A) and (R) are correct and (R) is the correct explanation of (A). Explanation: The Zamindars failed to make revenue payments due to the business as required by the Permanent Settlement Act. This payment failure was caused by a number of factors, and one of them was the price of agricultural produce.

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