Loan and Rent

Q. The estimated sum and the actual sum of 31 + 29 is the same.

1. True
2. False

Q. Akhil and Vimal took a loan of ₹800 from the bank for five months. Akhil pays ₹180 for each month. Vimal pays ₹1000 totally at the end of five months. Who pays less?

1. Akhil
2. Vimal
3. Bank
4. Both pays the same

Q. The price of the TV is ₹14, 000. Raghu wants to pay the amount in installment for 10 months. How much he has to pay each month?

1. 1400

Q. Sheela took a loan of ₹7000 from the bank. She paid ₹1200 each month for 6 months. How much does she pay back in 6 months?

1. ₹200
2. ₹7200
3. ₹7000
4. ₹6200

Q. Match the following repayment amounts with their interests for the loan of ₹1000.

1. ₹ 100
2. ₹ 50
3. ₹ 200
4. ₹ 150

Q. If the rent for the room is ₹400 per month, then how much is the rent of for 3 months?

1. ₹800
2. ₹900
3. ₹1600
4. ₹1200

Q. Ragul rented a house for ₹500 per month. How much will he pay for 12 months?

1. 6000

Q.

Bachhu Manjhi earns $₹24000$ in $8$ months. At this rate, how much does he earn in one year?

Q. The total cost of the house for buying is ₹60000, but the rent for the same house is ₹1300 per month. Raj wants to live in that house only for 1 year. In this situation, What is better?

1. Renting
2. Buying
3. Renting or buying
4. None of the above

Q. Nirmala and Kavitha took a loan of ₹500 from the bank for six months. Nirmala pays ₹98 for each month. Kavitha pays ₹600 totally at the end of six months. Who pays more?

1. Nirmala
2. Kavitha
3. Bank
4. Both pays the same

Q. In 2018, my father took a loan of ₹20, 000 from a bank. He paid ₹1, 800 each month for one year. How much did he repay totally to the bank?

1. ₹20.000
2. ₹1, 800
3. ₹21, 600
4. ₹21, 400

Q. Babu took a loan of ₹300 from Renu. He has to pay ₹60 to her for a period of 6 months. He has to pay Renu in a period of 6 months.

1. ₹300
2. ₹330
3. ₹340
4. ₹360

Q. Sagar bought a new cycle of worth ₹5, 000 and he agreed to pay for it in steps of ₹900 per month for a period of 6 months. Which of the following is correct word for this type of payment?

1. Rent
2. Installment
3. Borrowing
4. Loan

Q. Rani took a loan of ₹ 20, 000 from the bank. She paid ₹ 1000 per month for 2 years. Enter the amount she paid totally in rupees?

1. 24000

Q. The price of the TV is ₹14, 000. Raghu wants to pay the amount in installment for 10 months. How much he has to pay each month?

[1 mark]

Q. Rani took a loan of ₹20, 000 from the bank. She paid ₹1000 per month for 2 years. How much did she pay totally?

1. 24000

Q. Reena borrowed an apartment from its owner and in return she pays him money every month. This method of borrowing is called renting.

1. True
2. False