What annual installment will discharge a debt of ₹5,460 due in 5 years at 10% simple interest per annum?

Let each annual installment be ₹x.
The time period is 5 years, and the simple interest rate is 10% per annum.

The formula for the total debt discharged by equal annual installments under simple interest is:

Total Debt=n⋅x+
2×100
x×R×n(n−1)
​

Where:

Total Debt=5460

n=5 years

R=10% per annum

Substitute the values into the formula:

5460=5x+
200
x×10×5×(5−1)
​

5460=5x+
200
x×10×5×4
​

5460=5x+
200
200x
​

5460=5x+x
5460=6x
x=
6
5460
​
=910
The value of the annual installment is ₹910.