A loan is taken today and repaid in two annual instalments (paid at the end of the year) of Rs.2662 each. The rate of interest is 10% p.a and it is compounded annually. Find the sum borrowed.

  • Option 1)

    Rs.4540                       

  • Option 2)

     Rs 4620               

  • Option 3)

    Rs.4520  

  • Option 4)

     Rs.2152

  • Option 5)

     Rs.2848            

Answers (1)
R rishi raj

Rate = 10 %

1/10 = 1 increases on 10

In second  square on both side given is 2662 but we have -121

So , 2662/121 = 22

Sum borrowed = 210 x 22 = 4620 Rs.

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