Under the Rural Housing Scheme, the Delhi Development Authority (DDA) allotted a

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Under the Rural Housing Scheme, the Delhi Development Authority (DDA) allotted a house to Kamal Raj for Rs. 126100. This payment is to be made in three equal annual instalments. If the money is reckoned at 5% per annum compound interest, then how much is to be paid by Kamal Raj in each instalment ?

Options:

A . Rs. 45205

B . Rs. 46305

C . Rs. 47405

D . Rs. 48505

Answer: Option B

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