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What annual instalment will discharge a debt of ₹6450 due in 4 years at 5% simple interest ?
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- ₹1500
- ₹1835
- ₹1935
- ₹1950
- ₹1500
Correct Option: A
Let each instalment be y Then,
⇒ | ![]() | y + | y × 5 × 1 | ![]() | + | ![]() | y + | y × 5 × 2 | ![]() | + | ![]() | y + | y × 5 × 3 | ![]() | + y = 6450 |
100 | 100 | 100 |
⇒ | ![]() | y + | y | ![]() | + | ![]() | y + | y | ![]() | + | ![]() | y + | 3y | ![]() | + y = 6450 |
20 | 10 | 20 |
⇒ | + | + | + y = 6450 | |||
20 | 10 | 20 |
⇒ | = 6450 | |
20 |
⇒ | = 6450 | |
20 |
⇒ y = | = ₹ 1500 | |
86 |
Second method to solve this question :
Here , A = ₹ 6450 , T = 4 years , R = 5%
Equal instalment = | |
T[200 + (T - 1) × R] |
Equal instalment = | |
4[200 + (4 - 1) × 5] |
Equal instalment = | |
4 × 215 |
Equal instalment = | |
4 × 215 |
Equal instalment = | |
215 |
Equal instalment = ₹ 1500