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Question
If a juice vendor took a loan of ₹ 10,000 for setting up his shop and paid back a total of ₹ 12, 500. How much interest did he pay?
If a juice vendor took a loan of ₹ 10,000 for setting up his shop and paid back a total of ₹ 12, 500. How much interest did he pay?
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Solution
The correct option is C ₹ 2500
Loan amount = ₹10,000
Amount paid = ₹12,500
The total interest paid
= Amount paid - Loan amount
= ₹(12,500 - 10,000) = ₹2500
Loan amount = ₹10,000
Amount paid = ₹12,500
The total interest paid
= Amount paid - Loan amount
= ₹(12,500 - 10,000) = ₹2500
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