What annual installment will discharge a debt of Rs.9300 due in 5 years at the rate of 12% simple interest?OptionsRs.1500Rs.1750Rs.1200Rs.1350

To solve this problem, we need to use the formula for simple interest which is I = PRT/100, where I is the interest, P is the principal amount (the initial amount of money), R is the rate of interest, and T is the time in years.

Given: P = Rs.9300 (the debt) R = 12% (the rate of interest) T = 5 years (the time)

We need to find the annual installment (A) that will discharge the debt. This means we need to find the amount of money that needs to be paid each year to completely pay off the debt in 5 years.

First, let's calculate the total amount to be paid back (P + I).

We know that I = PRT/100, so let's calculate I: I = 9300 * 12 * 5 / 100 = Rs. 5580

So, the total amount to be paid back is P + I = 9300 + 5580 = Rs. 14880

Since this total amount has to be paid back in 5 equal annual installments, we divide the total amount by 5 to get the annual installment:

A = 14880 / 5 = Rs. 2976

However, this is not one of the options given. It seems there might be a mistake in the problem or the options provided.