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Calculating Dates

Nitin took a ...

Question

Nitin took a loan of ₹70,000 and after a year he has to pay the bank an amount of ₹81,345. How much interest is he paying to the bank?

A

₹11,145

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B

₹11,245

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C

₹11,345

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D

₹11,445

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Solution

The correct option is C ₹11,345
Interest paid = Amount to be repaid - Loan from the bank
= ₹81,345 - ₹70,000
= ₹11,345

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