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A sum of ? 11000 was taken as loan . Thi...

A sum of ? 11000 was taken as loan . This is to be paid in two equal annual instalments. If the rate of interest be 20% compounded annually, then the value of each instalment is

A

Rs. 7500

B

Rs. 7000

C

Rs. 7100

D

Rs. 7200

Text Solution

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The correct Answer is:
D
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