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The principle amount in this case is ₹25,000.
The total amount, after 1 year is ₹26,160.
The sum of interests, over the 1 year period is ₹1,160.
He paid this sum of interests, over the period of 12 months, which means that he paid roughly ₹96.667 of interest, each month.
So, the total amount paid, each month is ₹2180.
The total amount, after 1 year is ₹26,160.
The sum of interests, over the 1 year period is ₹1,160.
He paid this sum of interests, over the period of 12 months, which means that he paid roughly ₹96.667 of interest, each month.
So, the total amount paid, each month is ₹2180.
vks13:
how much is interest
Roughly ₹96.667, each month.
Answered by
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loan=Rs. 25000
he paid after 1 year=Rs. 26160
interest=Rs.26160-25000
=Rs. 1160
Therefore the amount pai by raman every month=1160/12
=Rs. 290/3
he paid after 1 year=Rs. 26160
interest=Rs.26160-25000
=Rs. 1160
Therefore the amount pai by raman every month=1160/12
=Rs. 290/3
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