What annual instalment will discharge a debt of Rs.1815 due in 3 years at 10% simple interest?

  • Option 1)

    Rs.500

  • Option 2)

    Rs.530

  • Option 3)

    Rs.550

  • Option 4)

    Rs.580

  • Option 5)

    Rs.520

Answers (1)

let x = installments

x+\left [ x+\frac{\left ( x\ast 10\ast 1 \right )}{100} \right ]+\left [x+\frac{\left ( x\ast 10\ast 2 \right )}{100} \right ]=1815

x+ \frac{11x}{10} + \frac{12x}{10} = 185

33x = 18150

x= 550

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