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mahendra

· started a discussion

· 1 Months ago

how to find dept (Question:628181.0)

.

Question:

The annual payment of \(\unicode{x20B9} \)80 in 5 years at 5% per annum simple interest will discharge a debt of:

Options:
A) \(\unicode{x20B9} \)440
B) \(\unicode{x20B9} \)400
C) \(\unicode{x20B9} \)450
D) \(\unicode{x20B9} \)500
Solution:

Debt amount =\(\cfrac{80\times(100\times5+\cfrac{5\times5\times4}{2})}{100}= \cfrac{80\times550}{100}\)  

= 440

Knowledge Expert

· commented

· 1 Months ago

Dear student
The annual payment which will discharge a debt of D due in T years at R% simple interest per annum=
Formula= 100D/(100T + RT(T-1))/2

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