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Loan

Sita took a l...

Question

Sita took a loan of ₹100 from the bank and repayed ₹140 after an year. What is the amount of interest she paid for the loan?

A

₹100

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B

₹140

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C

₹40

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D

₹50

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Solution

The correct option is C ₹40
Interest paid = Amount to be repaid - Loan from the bank
= ₹140 - ₹100
= ₹40

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