a sum of ₹21600 is borrowed at 5% simple interest per annum and is paid back in four equal annual installments . what is the amount in rupees of each installment?
a)6027.91
b)6017.84
c)6107.81
d)6117.74
Also please explain the answer in detail with method only answer if you know.
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Answer:
₹270
Step-by-step explanation:
₹21600 * 5/100 percent interest
=1080 total amount to be paid
now 1080 divided by 4=270 rs
so, equal installments ₹270 should be paid
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