Question

A sum of Rs. 1230 is borrowed at 5%
compound interest for 2 years on the
condition that it is refunded in 2 equal
installments, one at the end of the first
year and the other at the end of the
second year. Find the amount of each
installment.
(1) Rs. 637.50
(2) Rs. 655-50
(3) Rs. 661.50 (4) Rs. 665.50​

Answer 1

Answer:

The right answer is Rs. 661.50 .

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