Question

What annual payment will discharge a debt of rs 6450 due in 4 years at 5% simple interst?

Answer 1

heyaa,,,
total due = 6450.
for 1 year interest will be;
= 6450 X 5/100 X 12/12.
= 322.5.
for 5 year interest will be ;
= 322.5 X 5
= 1612.5.
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