What annual instalment will discharge a debt of INR 1092 due in 3 years at 12 % Simple interest ?

INR 250

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INR 275

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INR 300

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INR 393. 12

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Solution

The correct option is D INR 393. 12
Simple interest $= \frac{p \times r \times t}{100}$
$= \frac{1092 \times 12 \times 3}{100} = 393.12$

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