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Q: An amount of रु 16400 is borrowed and is to be repaid in 2 years in equal annual installments at the rate of 5% compound interest. Find the amount of annual payment.
  • A. रु 7590
  • B. रु 7495
  • C. रु 7600
  • D. रु 8820
Correct Answer: Option D -
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Explanations:

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