Simple Interest Practice Test 1

Question : 40 of 40

Marks: +1, -0

What equal instalment of annual payment will discharge a debt which is due as Rs. 848 at the end of 4 years at 4% per annum simple interest?

Solution:

Let equal instalment be Rs. x; then

x+{x×4×3}/100+x

+{x×4×2}/100+x

+{x×4×1}/100+x=848

⇒4x+{24x}/100=848

⇒x=200

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