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# A sum was lent at 20%p.a compound interest, the interest being compounded annually. Rs.1200 was paid back after 1 year. After another year Rs. 1440 was re

A sum was lent at 20%p.a compound interest, the interest being compounded annually. Rs.1200 was paid back after 1 year. After another year Rs. 1440 was repaid to clear the loan. Find the sum lent.

• Option 1)

Rs.5000

• Option 2)

Rs.6000

• Option 3)

Rs 2000

• Option 4)

Rs 4000

• Option 5)

Rs.8000

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R = 20 % P.A

Paid back after 1st year = 1200

Paid back after year to clear the loan = 1440

Let, P = $x$

Then = $\dpi{100} \left ( \frac{120}{100}x-1200 \right )\times \frac{120}{100}=1440$

$\dpi{100} \frac{(120x-12000)}{100}=\frac{144000}{120}$

$\dpi{100} 1440x=\frac{2880000}{1440}$

$\dpi{100} x=2000$

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