What annual payment will discharge a debt of Rs. 1050 due in 2 years at the rate of 5% compound interest?  Select the correct option.
A) 993.2	B) 551.25	C) 534.33	D) 543.33	E) 564.69
Explanation:   Let each installment be Rs. x. Then,   x/(1 + 5/100) + x/(1 + 5/100)2 = 1050   820x + 1050 * 441   x = 564.69   So, value of each installment = Rs. 564.69   Answer: Option 564.69
<result>E</result>
What annual payment will discharge a debt of Rs. 1050 due in 2 years at the rate of 5% compound interest?