Question

Simran takes a loan of ₹33,84,000 for her new house. She repays it to her friend in equal parts over 12 years. How much did she pay every month?

Answer 1

Given:

• The amount of money Simran takes a loan for = ₹33,84,000
• Time taken for her to repay the amount to her friend in equal parts = 12 years

To find:

The amount of money she paid every month.

Answer:

$\sf{The\:amount\:of\:money\:she\:paid\:every\:year=\:\dfrac{33,84,000}{Number\:of\:years}=\dfrac{33,84,000}{12}}$

$\sf{\longrightarrow\:That\:gives\:282000\:rupees\:paid\:every\:year.}$

$\sf{Amount\:of\:money\:paid\:every\:month=\dfrac{282000}{Months\:in\:a\:year}$

$\sf{=\:\dfrac{282000}{12}$

$\sf{=\:23500}$

Therefore, Simran paid ₹23,500 every month.