Question

What annual installment will discharge a debt of Rs 3087 due in 2 years at 10% simple interest?

• A. 970
• B. 1070
• C. 1170
• D. 1370
• E. 1470

Answer 1

The correct option is E

1470

$x+[x+(x\times 1\times \frac{1}{100}\left)\right]=3087$

$2x+0.1x=3087$

$x=1470$