A sum of ₹ 550 was taken as a loan. This...

A sum of ₹ 550 was taken as a loan. This is to be paid back in two equal annual instalments. If the rate of interest be `20%` compounded annually, then the value of each instalments is:

300

360

none of these

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ARIHANT SSC-CI/SI/INSTALMENTS-EXERCISE (LEVEL - 1)

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