Fazila took a loan of Rs.4800 from Meenkar bank. She paid back Rs. 500 every month for one year. Find, a) the total amount she paid to bank? b) the interest? *
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Answer:
a)
total amount = 500*12 = Rs. 6000
b)
interest = total amount - loan
= 6000 - 4800
= Rs. 1200
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