Question

Jhansi and her sister took a loan of Rs 21,000 to buy a log boat. They paid back a total of Rs 23, 520 in one year. How much did they pay back every month?

Answer 1

1 year = 12 months
Total amount paid back by Jhansi and her sister in 1 year = Rs 23,520
Amount they paid every month = Rs 23520 ÷ 12
= Rs 1,960

They paid back Rs 1,960 every month.