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Question
Hariya took a loan to build his house. He has to pay back Rs 2,750 every month for two years. How much will he pay back in 2 years?
Solution
Money paid by Hariya in a month = Rs 2,750
It is given that Hariya has to pay Rs 2,750 every month for 2 years.
Number of months in 1 year = 12
∴ Number of months in 2 years = 2 × 12 = 24
Now, Money to be paid by Hariya in 24 months
= 24 × Rs 2750
= Rs 66,000
Working:
2750
× 24
11000
55000
66000
Thus, Hariya will pay Rs 66,000 in 2 years.
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