A) Rs. 360
B) Rs. 300
C) Rs. 320
D) Rs. 340
Correct Answer: B
Solution :
Let the annual instalment be Rs. x. Then, \[\left[ x+\left( \frac{x\times 4\times 8}{100} \right) \right]+\left[ x+\left( \frac{x\times 3\times 8}{100} \right) \right]\] \[+\left[ x+\left( \frac{x\times 2\times 8}{100} \right) \right]+\left[ x+\left( \frac{x\times 1\times 8}{100} \right) \right]+x=1740\]or \[\frac{33x}{25}+\frac{31x}{25}+\frac{29x}{25}+\frac{27x}{25}+x=1740\] or \[x=300\]
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