The annual payment that will discharge a debt | vedclass

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(C) Let the annual payment be $x$.The debt is discharged in $3$ years,meaning the payments are made at the end of year $1$,year $2$,and year $3$.The a

Vedclass · Accepted Answer

$15000$

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(C) Let the annual payment be $x$.The debt is discharged in $3$ years,meaning the payments are made at the end of year $1$,year $2$,and year $3$.The amount of the first payment $x$ will earn interest for $2$ years,the second payment $x$ will earn interest for $1$ year,and the third payment $x$ will earn no interest.Total amount $= x(1 + \frac{R 	imes 2}{100}) + x(1 + \frac{R 	imes 1}{100}) + x(1 + \frac{R 	imes 0}{100}) = 47250$.$x(1 + \frac{5 	imes 2}{100}) + x(1 + \frac{5 	imes 1}{100}) + x = 47250$.$x(1 + 0.10) + x(1 + 0.05) + x = 47250$.$1.10x + 1.05x + 1.00x = 47250$.$3.15x = 47250$.$x = \frac{47250}{3.15} = 15000$.Thus,the annual payment is ₹ $15000$.

The annual payment that will discharge a debt of ₹ $47250$ due in $3$ years at the rate of $5 \%$ simple interest per annum is:

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