what annual payment will discharge a debt of rs 580 due..., Simple Interest, General Mathematics

Question:What annual payment will discharge a debt of Rs. `580` due in `5` years the rate being `8%` per annum ?

A `Rs. 65.60` 
B `Rs. 100` 
C `Rs. 166.40` 
D `Rs. 12`

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+ AnswerB

+ ExplanationLet the annual instalment be Rs. x. Then,

`[x + ((x xx 4 xx 8)/100)] +[ x + ((x xx 3 xx 8)/100)] x + ((x xx 2 xx 8)/100)] + [ x + ((x xx 2 xx 8)/100)] + x = 580`

`or (33x)/25 + (31x)/25 + (29x)/25 + (27x)/25 + x = 580`

`or x = 100`.

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