Question
What annual payment will discharge a debt of Rs. 6450 due in 4 years at 5% simple interest ?
Answer: Option B
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Let the annual instalment be Rs. `x` Then ,
`[ x + ((x xx 3 xx 5)/(100))] + [x + ((x xx 2 xx 5)/(100))] + [x + ((x xx 1 xx 5)/(100))] + x = 6450`
`hArr (23x)/(20) + (22x)/(20) + (21x)/(20) + x = 6450`
`hArr 86x = 6450 xx 20`
`hArr x = 1500`
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