A) Rs. 1,400
B) Rs. 1,500
C) Rs. 1,550
D) Rs. 1,600
Correct Answer: B
Solution :
[b] Let the annual instalment be Rs. x. \[\therefore \left( x+\frac{x\times 3\times 5}{100} \right)\]. \[+\left( x+\frac{x\times 2\times 5}{100} \right)+\left( x+\frac{x\times 1\times 5}{100} \right)+x=6450\]\[\Rightarrow \frac{115x}{100}+\frac{110x}{100}+\frac{105x}{100}+x=6450\] \[\Rightarrow 115x+110x+105x+100x\] \[=6450\times 100\] \[\Rightarrow 430x=6450\times 100\] \[\therefore x=\frac{6450\times 100}{430}=Rs.\,\,1500\]
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