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Q.

Hariya took a loan to build his house. He has to pay back Rs 7780 every month for two years. How much will he pay back in 2 years?

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a

186720

b

286760

c

186760

d

186750

answer is A.

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Detailed Solution

Given:

Amount of loan that is to be paid every month = Rs 7780

To find:

Amount of loan he will pay in 2 years

Calculation:

No. of months in one year  =12

No. of months in 2 years  =2×12  =24 months

Amount of loan that is to be paid every month = Rs 7780

By using the cross multiplication method, we get,

Amount of loan that is to be paid in 2 years =  Rs 7780×24

Solving the multiplication,

7780×24=7780×(20+4)

 7780×24=(7780×20)+(7780×4)-----(1)

 7780×20=155600-----(2)

 7780×4=31120-----(3)

Substituting values of (2) & (3) in (1), we get,

7780×24 =5520+276

                    = 186720                                                                

Therefore, the amount to be paid in 2 years is Rs186720.

Hence, the correct option is A.

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