A loan of Rs. 12300 at 5% per annum compound interest, is to be repaid in two eq

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A loan of Rs. 12300 at 5% per annum compound interest, is to be repaid in two equal annual installments at the end of every year. Find the amount of each installment ?

Options:

A . Rs. 6651

B . Rs. 6615

C . Rs. 6516

D . Rs. 6156

Answer: Option B

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