A sum of Rs.13,360 was borrowed at $8\frac{3}{4}$% per annum compound interest and paid back in two years In two equal annual Instalments. What was the amount of each instalment
1). Rs.5,769
2). Rs.7,569
3). Rs.7,009
4). Rs.7,500
. Let each instalment be x.
= $\large \frac{x}{(1+\frac{35^{2}}{400})}$ + $\frac{x}{(1+\frac{35^{}}{400})} = 13360$
$\large \frac{6400x+6960x}{7569}= 13360$
$\large =13360 x = 13360 × 7569$
$ \large x = 7569 $