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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 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?
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Solution
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 × 18
= ₹ 4500
Total amount paid back
= Amount taken + Interest paid
= ₹ 36000 + ₹ 4500
= ₹ 40500
Amount paid per month will be
= ₹ 40500 ÷ 18
= ₹ 2,250
2250 1840500−36–––2 45 − 36––– 090 − 90––– 000 − 000–––– 000
Amount took as loan = ₹ 36000
Interest paid per month = ₹ 250
Interest paid in one and half years
= ₹ 250 × 18
= ₹ 4500
Total amount paid back
= Amount taken + Interest paid
= ₹ 36000 + ₹ 4500
= ₹ 40500
Amount paid per month will be
= ₹ 40500 ÷ 18
= ₹ 2,250
2250 1840500−36–––2 45 − 36––– 090 − 90––– 000 − 000–––– 000
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