jansi and her sister took a loan of rs 21000 to buy a log boat. they paid back a total of rs. 23520 in one year. how much did they pay back everyone
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when there is interest rs 2520
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Given :
Jhansi and her sister took a loan of Rs. 21,000 to buy a log boat. They paid back a total of Rs. 23,520 in one year.
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To find :
How much did they pay back every month?
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Formula :
★ Money they pay every month = Money paid back/12 months.
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Concept :
#We know that, 1 year = 12 months.
• 1 Year = (In year) .
• 12 months = (In months).
#There are 12 months in a year, hence 1yr = 12 months.
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Calculations :
→ 23520/12
→ 1960
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Therefore, they paid 1060 rupees every month.
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