Mathematics · Compound Interest
A sum of ₹9,960 was borrowed at 7.5% per annum compound interest, compounded annually, and paid back in two equal annual instalments. What was the value of each instalment?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹5,457
- 2₹5,745
- 3₹5,547✓
- 4₹5,475
Correct answer
₹5,547
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