Question

Binod took a loan of ruppees 24000 from the bank . He paid back Rs.28800 to the bank in one year .How much amount did he pay back per month please answer this question​

Answer 1

Step-by-step explanation:

Binod took loan of 24000 rupees

He paid back 28800rupees in one year

So assuming it as simple interest,

the interest in the year is 28800-24000=4800

In a month the interest is 4800/12 = Rs 400

In a month he paid 24000/12 + 400

= 2000+400

= 2400 rupees