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Preparation of Statement of Profit and Loss

How much inte...

Question

How much interest did he pay if the loan was repaid in 5 years?

Money borrowed = ₹1,00,000
Money returned = ₹2.400 per month

A

₹ 40,000

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B

₹ 32,000

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C

₹ 34,000

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D

₹ 44,000

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Solution

The correct option is D
₹ 44,000
.

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