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Question

Valli took a loan of Rs. 9750 for farming purposes. She has to pay it back in equal amounts in 6 months. How much will she has to pay every month?

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Solution

Amount taken by Valli as loan = Rs. 9750
Payback period of the loan =6 months
Amount paid by Valli each month = Rs. 9750÷6= Rs. 1625

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