Question

Alex took a loan of ₹4000. He paid ₹400 per month for a year to pay back the loan. How much extra money did he pay the bank (in Rupees)?

• A. 400
• B. 400
• C. 600
• D. 800

Answer 1

The correct option is D 800

Amount Alex took as a loan = ₹4000
Amount Alex paid per month = ₹400
1 year = 12 month
Amount Alex paid in a year = 400 x 12
= ₹4800
Extra money Alex paid = 4800 - 4000
= ₹800
Correct Option is Option D