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plz solve this...

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plz solve this...

Target MA
35 posts
What annual instalment will discharge a debt of Rs. 1092 due in 3 years at 12%
simple interest?
a) Rs.300
b) Rs.225
c) Rs.400
d) Rs.325
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Re: plz solve this...

Erika
37 posts
acc to Simple Int. it is 393.12. But thats not in the options. in case we round of, we may choose 400. This is what i think.
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Re: plz solve this...

rohan
37 posts
i m getting 325
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Re: plz solve this...

laracroft
129 posts
Hey Rohan !! How did u get 325?? Please give the solution ??
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Re: plz solve this...

Target MA
35 posts
In reply to this post by Erika
plz give the solution..
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Re: plz solve this...

Prerna Rakheja
36 posts
Let each yearly instalment be X which is paid at the end of each year
Total Amount to be paid at the end of 3 years = 1092
As he pays X at the end of year one, he is exempted from payment of interest over X for the next two years i.e. X*12*2/100
He pays X at the end of year 2, thus further exempted from interest of X*12*1/100
Net amount to be repaid = 1092 - (X*2*12/100) - (X*1*12/100)
The above amount should equal 3X (total amount paid)

On solving it gives X = 325