Mathematics · Simple Interest
Ram borrowed ₹30,000 from Kishan at 20% simple interest. He agrees to repay the loan along with interest in four equal annual instalments at the end of each year. However, Kishan puts a condition that he will continue to calculate interest on the entire initial principal amount until Ram repays the loan completely. What will be the amount of each instalment?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹13,000
- 2₹13,500✓
- 3₹11,500
- 4₹12,450
Correct answer
₹13,500
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