Mathematics · Compound Interest
A sum is borrowed for two years at the rate of 5% compound interest per annum, compounded annually. If it is paid back in two equal annual installments of ₹882 each, then the sum borrowed is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹1,640✓
- 2₹1,740
- 3₹1,560
- 4₹1,680
Correct answer
₹1,640
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