Question

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.​

Answer 1

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