Question

What Annual installment will discharge a dept of Rs. $1092$ due in $3$ years at $12\%$ simple interest?

• A. $1485.12$
• B. $1480.12$
• C. $442$
• D. None of these

Answer 1

The correct option is C $442$

$x=$ yearly installment
$P=$ Principal money $=Rs.1092$
$n=$ no. of years $=3$
$r=$ rate of Simple interest per year $=12\%$
$x=\frac{\left(1092\right)(100+3\times 12)}{(100\times 3)+\frac{3(3-1)12}{2}}$
$\therefore x=Rs.442$