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A loan of Rs 12300 at 5% per annum compo...

A loan of Rs 12300 at 5% per annum compound interest, is to be repaid in two equal annual installments at the end of every year. Find the amount of each installment.

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`P = 12300` `R = 5%` `SI = (P*R*T)/100` `rArr (12300*5*1)/100 = Rs. 615` Let first installment be `Rs. x` After 1 year total amount `= 12300 + 615 = 12915` Remaining `= 12915 - x`, which is principal for next year. `SI = ((12915-x)*5*1)/100 = (12915-x)/20` ...
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