Question
Download Solution PDFWhat annual instalment will discharge a debt of ₹5,664 in 4 years at 12% simple interest?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A = amount = ₹5,664
T = time = 4 years
R = rate of interest = 12%
Formula used:
Installment = (100 × A)/{100 × T + RT(T – 1)/2}
Calculation:
Installment = (100 × 5664)/(100 × 4 + 12 × 4 × 3/2)
⇒ (100 × 5664)/(400 +72)
⇒ 100 × (5664/472)
⇒ 100 × 12
⇒ 1200
∴ The annual instalment will be ₹1,200.
Mistake Points As per SSC, they assume the debt amount and solve the question.
The above is a Previous year's question, and SSC holds this solution correct.
Refer to the solution carefully.
Last updated on Jul 22, 2025
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