What is the amount (in Rs.) of debt that will be discharged in 6 equal instalments of Rs. 800 each, if the debt is due in 6 years at 5% per annum?

Amount of each installment (R) =  ₹800

Number of instalments (n) = 6

Interest rate (r) = 5% per annum

Formula Used:  

For installment, 

 = $$\frac{\text{Due amount} \times {100}}{100t + \frac{rt(t-1)}{2}}$$​​

Solution:​

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