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Question
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. How much did they pay back every month?
Solution
1 year = 12 months
The total amount paid back by Jhansi and her sister in 1 year = Rs 23,520
The amount they paid every month
= 23520 ÷ 12
= Rs 1,960
They paid back Rs 1,960 every month.
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