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What annual installment will discharge a debt of Rs. 1092 due in 3 years at 12% simple interest? |
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Answer» Let each Installment be Rs. x Then, ( x+ ((x*12*1)/100)) + (x+ ((x*12*2)/100) ) + x = 1092 ((28x/25) + (31x/25) + x) = 1092 (28x+31x+25x)=(1092*25) x= (1092*25)/84 = Rs.325. Each installment = Rs. 325. |
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