Question

    What annual instalment will discharge a debt of

    ₹26,160 due in 4 years at 6% simple interest p.a.? 
    A ₹4,500 Correct Answer Incorrect Answer
    B ₹5,500 Correct Answer Incorrect Answer
    C ₹6,000 Correct Answer Incorrect Answer
    D ₹5,800 Correct Answer Incorrect Answer

    Solution

    Let the annual installment be ₹x. Each installment earns simple interest at 6% p.a. for 3, 2, 1, and 0 years respectively. So, total payment with interest:

    Practice Next

    Relevant for Exams: