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  1. The amount instalment will discharge on debit of Rs 3220 due in 4 year at 10 % simple interest?
    1. 500
    2. 600
    3. 700
    4. None of these
Correct Option: C

Let the amount instalment be Rs ' x '
Then According to question,
(Amount of 'x' for 3 yrs) + (Amount of 'x' for 2 yrs) + (Amount of 'x' for 1 yrs) + x =3220
or, [x+(x × 10 × 3)/100] + [x+(x × 10 × 2)/100] + [x+(x × 10 × 1)/100] + x=3220
⇒ 4x+ (30x/100)+(20x/100)+(10x/100)=3220
⇒ 460x=322000
⇒ x=Rs 700

∴ Each Instalment= Rs 700


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