What amount will discharge the debt of Rs 6300 due in 2 years at the r

1.	What amount will discharge the debt of Rs 6300 due in 2 years at the rate of interest 10% simple Interest?1. Rs. 20002. Rs. 30003. Rs. 31504. Rs. 3300
Answer» Correct Answer - Option 2 : Rs. 3000 Given: Amount = Rs. 6300 Time = 2 years Rate of Interest = 10% Formula Used: Installment = \(\frac{100\ \times \ A}{100 \ \times \ t \ + \ R\ \times \ t(\frac{t \ - \ 1}{2})}\) Where, A = Amount t = Time R = Rate of Interest Calculation: Installment = \(\frac{100\ \times \ A}{100 \ \times \ t \ + \ R\ \times \ t(\frac{t \ - \ 1}{2})}\) ⇒ \(\frac{100\ \times \ 6300}{100 \ \times \ 2 \ +\ 10 \ \times \ 2(\frac{2 \ - \ 1}{2})}\) ⇒ \(\frac{630000}{200 \ + \ \frac{20}{2}}\) ⇒ 630000/210 = 3000 ∴ The Installment to clear debt is Rs. 3000

What amount will discharge the debt of Rs 6300 due in 2 years at the rate of interest 10% simple Interest?1. Rs. 20002. Rs. 30003. Rs. 31504. Rs. 3300

Answer» Correct Answer - Option 2 : Rs. 3000

Given:

Amount = Rs. 6300

Time = 2 years

Rate of Interest = 10%

Formula Used:

Installment = \(\frac{100\ \times \ A}{100 \ \times \ t \ + \ R\ \times \ t(\frac{t \ - \ 1}{2})}\)

Where, A = Amount

t = Time

R = Rate of Interest

Calculation:

Installment = \(\frac{100\ \times \ A}{100 \ \times \ t \ + \ R\ \times \ t(\frac{t \ - \ 1}{2})}\)

⇒ \(\frac{100\ \times \ 6300}{100 \ \times \ 2 \ +\ 10 \ \times \ 2(\frac{2 \ - \ 1}{2})}\)

⇒ \(\frac{630000}{200 \ + \ \frac{20}{2}}\)

⇒ 630000/210 = 3000

∴ The Installment to clear debt is Rs. 3000

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