A sum of Rs. 1100 was taken as a loan. This is to be paid in two equal installments. If the rate of interest is 20% per annum, compounded annually, find the amount payable in each installment.

A sum of Rs. 1100 was taken as a loan. This is to be paid in two equal

1.	A sum of Rs. 1100 was taken as a loan. This is to be paid in two equal installments. If the rate of interest is 20% per annum, compounded annually, find the amount payable in each installment.
A.	Rs. 620
B.	Rs. 670
C.	Rs. 600
D.	Rs. 720
Answer» E.

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A sum of Rs. 1100 was taken as a loan. This is to be paid in two equal installments. If the rate of interest is 20% per annum, compounded annually, find the amount payable in each installment.

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