Multiple choice

What is the annual instalment to discharge a debt of Rs. 2210 due in 4 years at 7% simple interest? एक 2210 रू. के ऋण को 4 वर्षों में 7% की सा. ब्याज की दर से वार्षिक किस्त क्या होगी?

  1. 450

  2. 500

  3. 600

  4. 750
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For equal annual instalments at simple interest: let instalment be x. Amount paid = x + x(1 + r/100) + x(1 + 2r/100) + x(1 + 3r/100). At 7%: x(1 + 1.07 + 1.14 + 1.21) = 2210. This gives x(4.42) = 2210, so x = 500. Each instalment of Rs. 500 will discharge the debt in 4 years.

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