Question

Divya borrowed ₹48,700 from the bank and she returns ₹4500 every month. What is the interest paid by her after 1 year ?

• A.
  ₹4000
• B. ₹5,000
• C.
  ₹5,300
• D.
  ₹4,300

Answer 1

The correct option is C

₹5,300
Amount barrowed by Divya = ₹48,700
Amount returned by Divya monthly= ₹4,500
So, amont paid by Divya in 1 year = ₹4,500 × 12 = ₹54,000
Interest paid by her = ₹54,000 -₹48,700= ₹5,300