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A man borrows Rs 2550 to be paid back ...

A man borrows Rs 2550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly instalments. How much will each instalment be?

A

Rs. 1352

B

Rs. 1377

C

Rs. 1275

D

Rs. 1283

Text Solution

Verified by Experts

The correct Answer is:
A
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