What annual installment will discharge a debt of Rs. 35,455 due in three years at 12% simple interest per annum? (Installments will be paid at the end of the years; Round off to the nearest Rupee)

Let the annual installment be x.
The total amount cleared by 3 installments at 12% simple interest over 3 years is calculated as:

1
st
installment (interest for 2 years) =x+
100
x×12×2
​
=1.24x

2
nd
installment (interest for 1 year) =x+
100
x×12×1
​
=1.12x

3
rd
installment (no interest) =x

Sum of these values must equal the total debt:

1.24x+1.12x+x=35455
3.36x=35455
x=
3.36
35455
​
≈10552.08
Rounding off to the nearest rupee, the annual installment is Rs. 10,552.