The sum of ₹10400 is borrowed at 8% simple interest and is paid back in 5 equal annual instalments. What is the amount of each instalment
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⚡Hey mate⚡
✨Here is your answer✨
Price = 10400
Interest percent = 8
Installment = 5
Simple interest = price × rate × time ÷ 100
Simple interest = 10400 × 8 × 5 ÷ 100
Simple interest = 4160
Total ammount with simple interest = 10400 + 4160
Total ammount with simple interest = 14560
Each installment = 14560 ÷ 5
Each installment = 2912
Your answer is 2912.
I hope it's helpful for you. Thank you ❤️❤️
✨Here is your answer✨
Price = 10400
Interest percent = 8
Installment = 5
Simple interest = price × rate × time ÷ 100
Simple interest = 10400 × 8 × 5 ÷ 100
Simple interest = 4160
Total ammount with simple interest = 10400 + 4160
Total ammount with simple interest = 14560
Each installment = 14560 ÷ 5
Each installment = 2912
Your answer is 2912.
I hope it's helpful for you. Thank you ❤️❤️
sapariaprabhat:
But bro the answer is 2800
if you give equal installment then answer 2912.
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