Question

Alex took a loan of ₹20,000 from the bank. He paid ₹1000 per month for 2 years. Enter the amount that he repaid?

• A. 24000

Answer 1

The correct option is A 24000
Amount paid monthly = ₹1000

1 year has 12 months.
So, 2 years will have 12 x 2 = 24 months.

$\text{Amount paid for 2 years}=24\times ₹1000=₹24000$

$\therefore$ Alex paid ₹24000 to the bank for 2 years.