Arithmetichard · Past Paper
A sum of money is borrowed and paid back in two equal annual installments of Rs 882 each, allowing 5% compound interest. Find the sum borrowed.
ARs 1600
BRs 1640
CRs 1700
DRs 1800
✓ Correct Answer: B — Rs 1640
P = 882/1.05 + 882/(1.05)^2 = 840 + 800 = 1640.
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