The annual payment of ₹500 in 4 years at the rate of 10%p.a. simple interest will discharge a debt of what amount?

2300

The Best way to find the answer:

10% = \(\frac{1}{10}\) ⇒ *add one in every year.*

Year ⇒ 1st  :  2nd  :  3rd  :  4th 

            10  :   11   :   12   :  13    ⇒ 46 (total)

1st year value is installment amount = 10R = 500 (given)

Sum of ratio is total amount = 46R = 50 x 46 = 2300