What equal installment of annual payment will dis-charge a debt which is due as Rs.848 at the end of 4 years at 4% per annum simple interest?

Explanation:

Note:

In such type of questions to save your valuable time follow the given below method.

Value of Installment =Principal×100\times×100+(t(n−1)+t(n−2)+…1)×Rate(inper)

Principal = Rs. 848,Rate = 4%,

Time= 4years

Installment = 848×100\41100+(3+2+1)×4=848×100\(400+24)=848×100\424=Rs.200