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    Question

    What annual installment (in ₹) will discharge a debt

    of ₹9,429 due in three years at 12.25% simple interest per annum? [Note: Installments will be paid at the end of Year 1, Year 2 and Year 3.]
    A 2,840 Correct Answer Incorrect Answer
    B 2800 Correct Answer Incorrect Answer
    C 2700 Correct Answer Incorrect Answer
    D 2760 Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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