Correct Option: D

Let each equal annual instalment be p.
First instalment is paid after 1 year and hence will remain with the lender for the remaining (4 – 1) = 3 years. Similarly, second instalment will remain with the lender for 2 years, third instalment for 1 year and the final fourth instalment remain p as such.
A = A₁ + A₂ + A₃ + A₄
We can find the required answer with the help of given formula ,

A = P		100 + RT
		100

⇒ A = p		100 + 5 × 3	+	100 + 5 × 2	+	100 + 5 × 1	+	100 + 5 × 0
		100		100		100		100

⇒ 12900 = p		115 + 110 + 105 + 100
		100