Question

a sum of rupees 21600 is borrowed at 5% simple interest per annum and is paid back in 4 equal annual installments what is the amount in rupees of each installment

Answer 1

Step-by-step explanation:

=21,600/- rs * 5/ 100 percent interest

= 1080 total amount to be paid

now 1,080 divided by 4 = 270 rs.

So, equal installments 270 rs should be paid.