Question

What annual instalment will discharge a debt of rs.1092 due in 3 years at 12 simple interest?

Answer 1

Answer:

Interest on Rs "x" for 2 year 1 interest + 1 year interest on Rs "x" for 0 year = 1092

(x +2x × 12/100) + (x + x × 12/100) + (x + 0) = 1092

x = 325

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