Question

Ajay took a loan of Rs. 70,000 and after a year he has to pay the bank an amount of ₹ 81,345. How much interest is he paying to the bank?

• A. Rs. 10,345
• B. Rs. 10,435
• C. Rs. 11,435
• D. Rs. 11,345

Answer 1

The correct option is D Rs. 11,345

Interest paid = Amount paid to the bank - Loan taken from the bank
= Rs. 81, 345 - Rs. 70, 000
= Rs. 11, 345