Question

What annual installment will discharge a debt of 4200 due in 5 years at 10% simple interest?? Can this type of questions be done without applying formula?? plz help. ​

Answer 1

Answer:

The debt is of 4200 and we have 5 years of time to discharge the debt in annual installments and the simple interest is 10% .

Step-by-step explanation:

If we divide the debt which is 4200 by 5 and add 10% of the simple interest which is 420.

Then by paying an annual installment of 1260 yearly the debt can be diacharged