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A loan of Rs. 12,300 at 5% per annum com...

A loan of `Rs. 12,300` at `5%` per annum compound interest, is to be repaid in two equal annual instalments at the end of every year. Find the amount of each Instalment.

A

Rs 260

B

Rs 240

C

Rs 280

D

Rs 300

Text Solution

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The correct Answer is:
B
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