Home » Aptitude » Simple Interest

What annual payment will discharge a debt of ₹ 1092 due in 2 yr at 12% simple interest?

Correct Answer: ₹ 515

Explanation:

According to the formula,
Annual payment = 100P / [100 x T + {RT (T - 1)/2}]
= (1092 x 100) / [100 x 2 + {24 (2 - 1)/2}]
= (1092 x 100)/2012
= ₹ 515.09
≈ ₹ 515


← Previous Question Next Question→

More Questions from Simple Interest

Discussion & Comments

No comments yet. Be the first to comment!
Join Discussion