A sum of Rs. 13360 was borrowed at 35/4% per annum compound interest and paid back in two years in two equal annual installments. What was the amount of each installment?

A sum of Rs. 13360 was borrowed at 35/4% per annum compound interest a

1.	A sum of Rs. 13360 was borrowed at 35/4% per annum compound interest and paid back in two years in two equal annual installments. What was the amount of each installment?
A.	Rs. 5,769
B.	Rs. 7,569
C.	Rs. 7,009
D.	Rs. 7,500
E.	None of these
Answer» C. Rs. 7,009

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A sum of Rs. 13360 was borrowed at 35/4% per annum compound interest and paid back in two years in two equal annual installments. What was the amount of each installment?

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