Quantitative Aptitude Interest Compound Interest

A builder borrows ₹ 2,550 to be paid back with compound interest at the rate of 4% per annum by the end of 2 years in two equal yearly instalments. How much will each instalment be?

1
₹ 1,352
2
₹ 1,377
3
₹ 1,275
4
₹ 1,203 

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