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A sum is to be paid back in 2 equal annual installments. The interest is compounded annually at 12% per annum. If each installment

A sum is to be paid back in 2 equal annual installments. The interest is compounded annually at 12% per annum. If each installment be Rs. 11,760 then what is the sum? 1. Rs. 23443 2. Rs. 19,875 3. Rs. 43733 4. Rs. 25437 5. None

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