What annual installment will discharge a debt of rs 1218 due in 3 years at 16 simple interest

Q:

A borrows a sum of ₹2,000 from his friend B on 31 December 2011 on the condition that he will return the same after one year with simple interest at 8% per annum. However, A gets into a position of returning the money on 1 July 2012. How much amount he have to return to B?

Answer & Explanation Answer: D) ₹2,080

Explanation:


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Q:

Arvind deposited a sum of money with a bank on 1st January, 2012 at 8% simple interest per annum. He received an amount ₹ 3,144 on 7th August, 2012.

Answer & Explanation Answer: B) ₹ 3, 000

Explanation:


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