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Finding Amount

A man took a ...

Question

A man took a loan of ₹60,000 for buying a bike. If he paid back ₹ 73,000, how much interest did he pay to the bank?

A

₹ 11,000

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B

₹ 12,000

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C

₹ 13,000

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D

₹ 14,000

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Solution

The correct option is C ₹ 13,000
Money paid back = ₹ 73,000
Money that was borrowed = ₹60,000
Money that was paid more to the bank = ₹ 75,000 - ₹60,000 = ₹13,000

₹13,000 paid in excess is the interest money.

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