A sum of Rs.13,000 is to be paid back in 2 equal annual instalments. H – McqOptions

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1.	A sum of Rs.13,000 is to be paid back in 2 equal annual instalments. How much is each instalment if the interest is compounded annually at 8 % per annum?
A.	Rs.7280
B.	Rs.7290
C.	Rs.7270
D.	Rs.7920
Answer» C. Rs.7270

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