What annual installment will discharge a debt of Rs. 4600 due in 4 years at 10% simple interest?
Choose the most appropriate option:
A) 1000 B) 1030 C) 1100 D) None of these E) 1101
Let the 1st installment = 100/-   It is 3yrs before due   IInd is 2yr before due   III3rd is 1yr before due   IVth is 0 yrs before due   On 1st installment interest will be paid for 3yrs   2nd installment interest will be paid for 2yrs   3rd installment interest will be paid for 1yr   4th installment interest will be paid for 0yr   Interest = P[(100(3+2+1+0)x10)/100] = 60/-   Total loan discharged = 4*100+60/- = 460/-   Now installment of 100/- loan discharged = 460/-   Loan discharged 4600/- ? Installment = 1000/-   1000nswer: 1000.
<result>A</result>
What annual installment will discharge a debt of Rs. 4600 due in 4 years at 10% simple interest?