Question

The annual payment that will discharge a debt of Rs 47250 due 3 years, at the rate of 5% simple interest is:

• A. Rs 8000
  
• B. Rs 10000
  
• C. Rs 15000
  
• D. Rs 12000
• E. None of these

Answer 1

The correct option is C Rs 15000


We have, A =Rs 47250, T =3 years, R =5% p.a.
$\therefore$ Annual payment =$\frac{100\times A}{100\times T+\frac{RT(T-1)}{2}}$
$=\frac{100\times 47250}{100\times 3+\frac{5\times 3\times 2}{2}}=Rs15000.$