The interest charged on a loan is Tk. p per Tk. 1000 for the first month and Tk. q per Tk. 1000 for each month after the first month. How much interest will be charged during the first three months on a loan of Tk. 10000?
Solution
Correct Answer: Option A
For the first month interest of Tk 10000 = 10p
For the second & third month interest of Tk 10000 = 10q + 10q = 20q
Total interest = 10p + 20q
For the second & third month interest of Tk 10000 = 10q + 10q = 20q
Total interest = 10p + 20q
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