1.

What annual installment will discharge a debt of Rs. 1092 due in 3 years at 12% simple interest?

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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