Kamal took Rs. 6800 as a loan which along with interest is to be repaid in two e

Question

Kamal took Rs. 6800 as a loan which along with interest is to be repaid in two equal annual installment. If the rate of interest is $$12\frac{1}{2}$$ % compounded annually, then the value of each installment is = ?

Options:

A . Rs. 8100

B . Rs. 4150

C . Rs. 4050

D . Rs. 4000

Answer: Option C

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