What annual instalment will discharge a debt of Rs 1092 due in 3 years at 12% simple interest?  Choose the correct choice from the following answers:
A) Rs.325
B) Rs.545
C) Rs.560
D) Rs.550
E) None of these
Explanation:   Let each instalment 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= 325   ∴ Each instalment = Rs. 325   Rs.325nswer: Rs.325
<result>A</result>
What annual instalment will discharge a debt of Rs 1092 due in 3 years at 12% simple interest?