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What annual instalment will discharge a debt of 6450 Rs. due in 4 years at 5% simple interest?

August 16, 2016 Quiz Questions

What annual instalment will discharge a debt of 6450 Rs. due in 4 years at 5% simple interest?
[A]1500 Rs.
[B]1835 Rs.
[C]1935 Rs.
[D]1950 Rs.

1500 Rs.
Let each instalment be x. Then,
\because \left ( x+\frac{x\times 5\times 1}{100} \right ) + \left ( x+\frac{x\times 5\times 2}{100} \right ) + \left ( x+\frac{x\times 5\times 3}{100} \right ) + x = 6450
=> \left ( x+\frac{x}{20} \right )+\left ( x+\frac{x}{10} \right )+\left ( x+\frac{3x}{20} \right )+x = 6450
=> \frac{21x}{20}+\frac{11x}{10}+\frac{23x}{20}+x = 6450
=> \frac{21x+22x+23x+20x}{20} = 6450
=> \frac{86x}{20} = 6450
=> x = \frac{6450\times 20}{86} = 1500 Rs.
Hence option [A] is correct answer.

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