Mathematics · Compound Interest
A sum borrowed at a compound interest rate of 12% per annum is repaid in two equal annual installments of ₹13,328 each. What was the principal amount borrowed?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹23,520✓
- 2₹25,175
- 3₹22,525
- 4₹26,656
Correct answer
₹23,520
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