What annual payment will discharge a debt of Rs. 1050 due in 2 years at the rate of 5% compound interest?
Choices:
A) 993.2  B) 551.25  C) 534.33  D) 543.33  E) 564.69

Rationale: "explanation : let each installment be rs . x . then , x / ( 1 + 5 / 100 ) + x / ( 1 + 5 / 100 ) 2 = 1050 820 x + 1050 * 441 x = 564.69 so , value of each installment = rs . 564.69 answer : option e"
Answer: E