Simple Interest Practice Test 1

Question : 26 of 40

Marks: +1, -0

What annual instalment should be paid to clear the debt of Rs. 645 in 4 years at the rate of 5% p.a.simple interest?

Solution:

Let annual instalment be Rs. x; then

x+{x×3×5}/100+x+{x×2×5}/100+x+{x×1×5}/100+x=645+{645×4×5}/100

⇒4x+{3x}/10=774

⇒x={774×10}/43=\Rs.180

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