Question

What quarterly payment will discharge a debt of Rs. 2280 due in two years at 16% p.a. SI?

• A. Rs. 225
• B. Rs. 250
• C. Rs. 200
• D. Rs. 275

Answer 1

Answer: (B)

Rs. 250

$M=na+\frac{ra}{100\times y}\times \frac{n(n-1)}{2}$

$2280=8a+\frac{16a}{100\times 4}\times \frac{8(8-1)}{2}$

$2280=8a+\frac{112a}{100}$

$a=Rs.250$.