Question

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?

• A. Akhil
• B. Vimal
• C. Bank
• D. Both pays the same

Answer 1

The correct option is A Akhil

Akhil and Vimal took loan of ₹500.
Akhil pays ₹180 for five month.
$\Rightarrow 180\times 5=900$
So, Akhil pays ₹900 and Vimal pays ₹1000 at once.

As, ₹900 < ₹1000, Akhil pays less.