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

Solution(By Examveda Team)

Note : In such type of questions to save your valuable time follow the given below method.
$$\eqalign{ & {\text{Value of installment}} \cr & {\text{ = }}\frac{{{\text{Principal}} \times {\text{100}}}}{{{\text{Time}} \times {\text{100}} + \left( {{{\text{t}}_{{\text{n - 1}}}} + {{\text{t}}_{{\text{n - 2}}}}...1} \right) \times {\text{Rate}}\% }} \cr & {\text{Principal = Rs}}{\text{. 848}} \cr & {\text{Rate = 4}}\% \cr & {\text{Time = 4 year}} \cr & {\text{Installment}} \cr & {\text{ = }}\frac{{848 \times 100}}{{4 \times 100 + \left( {3 + 2 + 1} \right) \times 4}}{\text{ }} \cr & {\text{ = }}\frac{{848 \times 100}}{{\left( {400 + 24} \right)}}{\text{ }} \cr & = \frac{{848 \times 100}}{{424}} \cr & {\text{ = Rs}}{\text{. 200}} \cr} $$