What annual payment will discharge a debt of rs 5600 due 5 years hence at the rate 6% simple interest?
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Internet= (5600*5*6)/100= 1680
In case of equal installments
5600/5= 1120
Hence he need to pay 1680+1120=2800
Each year for the next 5 years to clear his dues.
In case of equal installments
5600/5= 1120
Hence he need to pay 1680+1120=2800
Each year for the next 5 years to clear his dues.
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