Math MCQ: A sum of RS. 11000 was taken as loan. This is to be paid in two equal annual instalments.If the rate of interest be 20% compounded annually, then the value of each instalment is

A sum of RS. 11000 was taken as loan. This is to be paid in two equal annual instalments.If the rate of interest be 20% compounded annually, then the value of each instalment is

Correct Answer: RS.7200

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