A loan of ₹ 12,300 at 5% per annum compound interest,

A loan of ₹ 12,300 at 5% per annum compound interest, is to be repaid in two equal annual
instalments at the end of every year. Find the amount of each instalment.

Given that , Loan = ₹ 12,300 , r = 5% per annum
Let each instalment be y.

⇒	20y	+		20		²	y = 12300
	21			21

⇒	20y		1 +	20		= 12300
	21			21

⇒	20y	×	41	× y = 12300
	21		21

⇒ y =	12300 × 21 × 21	= ₹ 6615
	20 × 41