What Annual Payment will be Discharge?

What annual payment will discharge IN simple interest, a debt of Rs 580 due in 5 years at 8% p.a.?

  1. Rs 166.40
  2. Rs 65.60
  3. Rs 100
  4. Rs 120
Monis Rasool Professor Asked on 13th September 2015 in Maths.
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  • 1 Answer(s)

    Answer: (3) Rs. 100

    Explanation:-

    Let the annual payment be Rs. X
    According to the question,
    (Amount of X for 4 years) + (Amount of X for 3 years) + (Amount of X for 2 years) + (Amount of 2 years) + (Amount of X for 1 year)  + X = 580
    [X + (X x 4 x 8)/100] + [X + (X x 3 x 8)/100] + [X + X x 2 x 8/100] + [X + X x 1 x 8/100]  + X = 580
    [5 X + (32 X + 24 X + 16 X + 8 X)/100] = 580
    5 X + 80 X/100 = 580
    5 X + 4X /5 = 580
    (5 x 5 X + 4 X)/5 = 580
    29 X = 580 x 5
    X = 580 x 5/29
    X = 20 x 5
    X = Rs. 100

    Hence, the answer is (3) Rs. 100.

     

    Anurag Mishra Professor Answered on 13th September 2015.
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