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Gracy took a loan of ₹4,000 and paid back ₹345 every month for one year. How much did she pay back in total?
- a)₹4,000
- b)₹4,140
- c)₹4,200
- d)₹4,500
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Gracy took a loan of 4,000 and paid back 345 every month for one year....
Loan Amount
Gracy took a loan of 4,000. This is the initial amount borrowed.
Monthly Payment
Gracy paid back 345 every month. This is her monthly repayment amount.
Duration of Loan
Gracy paid back the loan for one year. Since there are 12 months in a year, she made 12 payments.
Total Amount Paid
To find out how much she paid back in total, we need to multiply her monthly payment by the number of months:
- Monthly Payment: 345
- Number of Months: 12
So, the calculation is:
- Total Amount Paid = 345 * 12
Calculation
Now, let’s calculate it step-by-step:
- 345 * 12 = 4,140
Conclusion
In total, Gracy paid back 4,140. Therefore, the correct answer is option 'B'.
Understanding the Amount
- She borrowed 4,000 but paid back 4,140.
- The difference (4,140 - 4,000 = 140) reflects the interest or additional fees associated with the loan.
This breakdown helps in understanding not only the total repayment but also the implications of borrowing and repaying loans.
Gracy took a loan of 4,000. This is the initial amount borrowed.
Monthly Payment
Gracy paid back 345 every month. This is her monthly repayment amount.
Duration of Loan
Gracy paid back the loan for one year. Since there are 12 months in a year, she made 12 payments.
Total Amount Paid
To find out how much she paid back in total, we need to multiply her monthly payment by the number of months:
- Monthly Payment: 345
- Number of Months: 12
So, the calculation is:
- Total Amount Paid = 345 * 12
Calculation
Now, let’s calculate it step-by-step:
- 345 * 12 = 4,140
Conclusion
In total, Gracy paid back 4,140. Therefore, the correct answer is option 'B'.
Understanding the Amount
- She borrowed 4,000 but paid back 4,140.
- The difference (4,140 - 4,000 = 140) reflects the interest or additional fees associated with the loan.
This breakdown helps in understanding not only the total repayment but also the implications of borrowing and repaying loans.
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Question Description
Gracy took a loan of 4,000 and paid back 345 every month for one year. How much did she pay back in total?a)4,000b)4,140c)4,200d)4,500Correct answer is option 'B'. Can you explain this answer?? for Class 5 2025 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about Gracy took a loan of 4,000 and paid back 345 every month for one year. How much did she pay back in total?a)4,000b)4,140c)4,200d)4,500Correct answer is option 'B'. Can you explain this answer?? covers all topics & solutions for Class 5 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gracy took a loan of 4,000 and paid back 345 every month for one year. How much did she pay back in total?a)4,000b)4,140c)4,200d)4,500Correct answer is option 'B'. Can you explain this answer??.
Gracy took a loan of 4,000 and paid back 345 every month for one year. How much did she pay back in total?a)4,000b)4,140c)4,200d)4,500Correct answer is option 'B'. Can you explain this answer?? for Class 5 2025 is part of Class 5 preparation. The Question and answers have been prepared according to the Class 5 exam syllabus. Information about Gracy took a loan of 4,000 and paid back 345 every month for one year. How much did she pay back in total?a)4,000b)4,140c)4,200d)4,500Correct answer is option 'B'. Can you explain this answer?? covers all topics & solutions for Class 5 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gracy took a loan of 4,000 and paid back 345 every month for one year. How much did she pay back in total?a)4,000b)4,140c)4,200d)4,500Correct answer is option 'B'. Can you explain this answer??.
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