Practicing Success
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What annual installment will discharge a debt of total amount ₹4725 in 3 years at 5% simple interest ? |
750 1500 1700 2300 |
1500 |
Let each installment be x, then ⇒ x + {x + \(\frac{x × 5 × 1}{100}\)} + {x + \(\frac{x × 5 × 2}{100}\)} = 4725 ⇒ \(\frac{5x}{100}\) + \(\frac{10x}{100}\) + 3x = 4725 ⇒ \(\frac{315x}{100}\) = 4725 ⇒ x = 1500 |
