What annual installment will discharge a debt of $100 due in 3 years at 10% simple interest?
Choices:
A) 25.6
B) 50.2
C) 30.3
D) 45
E) 56

Rationale: let each installment be x [ x + ( x * 10 * 1 / 100 ) ] + [ x + ( x * 10 * 2 / 100 ) ] + x = 100 11 x / 10 + 12 x / 10 + x = 100 x = 30.3 answer is c
Answer: C