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Question:

A sum of money Rs. 9450 is borrowed at 10% p.a. C.I. The sum is to be paid back in two equal yearly installments. Find the amount of each installment.

Explanation:

Let the yearly installment = Rs. x

Amount in 1 years =9450 $(1 + \frac{10}{100})$ =1039.5

Balance = 10395 – x

Amount after 2nd year = (10395 – x) $(1 + \frac{10}{100})$

Now, (10395 – x) $(\frac{110}{100})$ =x⇒x=5445

Hence, option (b).

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