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A builder borrows Rs. 2550 to be paid ba...

A builder 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 installments. How much will each installment be?

A

`Rs. 1352`

B

`Rs. 1377 `

C

`Rs. 1275 `

D

`Rs. 1283 `

Text Solution

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The correct Answer is:
A
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