Question

What annual installment will discharge a debt of rs 2210 due in 4 years at 7 simple interest?

Answer 1

Given:

Debt = Rs. 2210

Time period = 4 years

The rate of simple interest = 7%

To find:

The annual instalment

Solution:

Let the amount of the annual instalment be "x".

We have the formula as:

$\boxed{\bold{Amount = Principal + S.I.}}$

According to the question, we get an equation as:

[Amount after 1st years] + [Amount after 2nd year] + [Amount after 3rd year] + [Amount after 4th year] = 2210

$\implies [x + \frac{x\times 3\times 7}{100} ] + [x + \frac{x\times 2\times 7}{100}] + [x + \frac{x\times 1\times 7}{100}] + x = 2210$

$\implies [x + \frac{x\times 21}{100} ] + [x + \frac{x\times 14}{100}] + [x + \frac{x\times 7}{100}] + x = 2210$

$\implies [x +0.21x ] + [x + 0.14x] + [x + 0.07x] + x = 2210$

$\implies 4x + 0.42x = 2210$

$\implies 4.42x = 2210$

$\implies x = \frac{2210}{4.42}$

$\implies \bold{x = 500}$

Thus, the annual instalment of Rs. 500 will discharge a debt of Rs. 2210 due in 4 years at 7% simple interest.

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Answer 2

Answer:

proper answered

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