What annual installment will discharge a debit of ₹5,664 in 4 years at 12% simple interest?

₹1,200

Let equal installment = 100 Rs

Rate = 12%

Payable amount in First year=Principal = Rs 100 

Payable amount in second year = Principal + Interest

                                              = 100 + 12 % of 100

                                              = 100 + 12

                                              = Rs 112

Payable amount in third year= Principal + Interest

                                        = 100 + 24 % of 100

                                        = 100+ 24

                                        = Rs 124

  Payable amount in fourth year= Principal + Interest

                                        = 100 + 36 % of 100

                                        = 100+ 36

                                        = Rs 136

Payable amount = 100 + 112 + 124 + 136 = 472

A.T.Q

472R = Rs.5664

1R = Rs.12

Hence,

100R = Rs.1200