What annual installment will discharge a debt of Rs. 1008 due in 3 years at 12% simple interest? Answers
A) 300 B) 345 C) 325 D) 335 E) None of them
Let each Installment be Rs. x   Then, ( x+ ((x*12*1)/100)) + (x+ ((x*12*2)/100) ) + x = 1008   =((28x/25) + (31x/25) + x) = 1008 ïƒ› (28x+31x+25x)=(1008*25)   x= (1008*25)/84 = Rs.300.   Therefore,	Each installment = Rs. 300.   300nswer is 300.
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What annual installment will discharge a debt of Rs. 1008 due in 3 years at 12% simple interest?