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Ramesh took a loan of Rs 1,20,000 from a...

Ramesh took a loan of Rs 1,20,000 from a bank to buy a Car. He has to pay principal amount in 3 equal annual installments, where as 11% SI is payable on remaining amount with each installment. Then find the second installment.

A

a)Rs 48,000

B

b)Rs 48,800

C

c)Rs 40,000

D

d)Rs 40,800

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The correct Answer is:
B
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