Question

A shopkeeper took a loan of ₹ 36000 from the bank. If he has to pay ₹ 250 as interest per month. How much amount does he needs to pay per month if he repays the money in one and half years?

• A. ₹ 2,250
  
• B. ₹ 2,350
  
• C. ₹ 2,450
  
• D. ₹ 2,550
  

Answer 1

The correct option is A ₹ 2,250


Amount took as loan = ₹ 36000
Interest paid per month = ₹ 250
Interest paid in one and half years
= ₹ 250 $\times$ 18
= ₹ 4500

Total amount paid back
= Amount taken + Interest paid
= ₹ 36000 + ₹ 4500
= ₹ 40500

Amount paid per month will be
= ₹ 40500 $÷$ 18
= ₹ 2,250

$$\begin{array}{c}2250\\ 1840500\\ -\underset{–}{36}2\\ 45\\ -\underset{–}{36}\\ 090\\ -\underset{–}{90}\\ 000\\ -\underset{–}{000}\\ 000\end{array}$$