The amount of debt that will be discharged by 5 equal monthly instalments of ₹1,845 each, at the rate of 48% simple interest per annum, is:

Monthly installment amount (x) = ₹1,845
Number of monthly installments (n) = 5
Annual interest rate = 48% per annum.
Monthly interest rate (r) =
12
48%
​
=4% per month = 0.04

The total debt discharged is equal to the sum of the installments plus the interest each installment earns up to the end of the 5
th
month:

The 1
st
installment earns interest for 4 months.

The 2
nd
installment earns interest for 3 months.

The 3
rd
installment earns interest for 2 months.

The 4
th
installment earns interest for 1 month.

The 5
th
installment earns interest for 0 months.

Total Debt=5x+
100
x×r×(4+3+2+1+0)
​

Total Debt=5(1845)+
100
1845×4×10
​

Total Debt=9225+
100
1845×40
​

Total Debt=9225+18.45×40
Total Debt=9225+738=₹9,963