Amit gave his friend Rs. 11000. This was to be repaid in 2 yearly installments with a rate of interest of 20% compounded annually. How much would be the value of each installment?

Amit gave his friend Rs. 11000. This was to be repaid in 2 yearly inst

1.	Amit gave his friend Rs. 11000. This was to be repaid in 2 yearly installments with a rate of interest of 20% compounded annually. How much would be the value of each installment?
A.	Rs. 7200
B.	Rs. 8200
C.	Rs. 5500
D.	Rs. 6400
Answer» B. Rs. 8200

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Amit gave his friend Rs. 11000. This was to be repaid in 2 yearly installments with a rate of interest of 20% compounded annually. How much would be the value of each installment?

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