Question

A loan of rs 5000 was repaid giving rs 6200.what is the interest paid
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Answer 1

Answer:

the amount of intrest paid on loan is 1200

Answer 2

Interest Paid is Rs 1200 if A loan of rs 5000 was repaid giving rs 6200

Given:

Loan of Rs 5000

Repaid by Rs 6200

To Find:

Interest Paid

Solution:

Amount Repaid = Loan Amount + Interest Paid

Step 1:

Use the formula and substitute Loan Amount = Rs 5000 and Amount repaid = Rs 6200

Amount Repaid = Loan Amount + Interest Paid

=> 6200 = 5000 + Interest Paid

Step 2:

Subtract 5000 from both sides:

=> 1200  = Interest Paid

Hence, Interest Paid is Rs 1200