Sajan took a loan of rs 9586 from the bank to buy a fishing boat. he paid back rs 10840 to the bank.
Interest paid = Amount paid back - loan amount
Loan amount = 9586
amount paid back = 10840
Interest paid = 10840 - 9586 = 1254
To find the amount he pay back each month = [tex] \frac{amount paid }{months} [/tex]
10840/ 8 = 1355
He paid back rs 1355 each month.
