Question

A sum of 18200 is borrowed at 4% simple
interest and is paid back in 5 equal annual
installments. What is the amount (in )
of each installment?​

Answer 1

⭕ YᎾUℛ ᎯℕЅᏇℰℛ ⭕

4368 rs

⬇️EXPLANATION ⬇️

principle = 18200 rs

rate = 4 %

time = 5 years

$interest = \frac{p \times r \times t}{100} \\ i = \frac{18200 \times 4 \times 5}{100} \\ \\ i = 182 \times 4 \times 5 \\ \\ i = 3640$

Amount = interest + principal

Amount = 3640 + 18200 = 21840

each installment =

$\frac{21840}{5} = 4368 \: rs$

✨Pℒℤ ℳᎯℛᏦ ℐᏆ ᎯЅ ℬℛᎯℐℕℒℐℰЅᏆ ᎯℕЅᏇℰℛ✨