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A sum of money Is paid back In two annual Instalments of Rs. 17.640 each, allowing 5% compound Interest compounded annually. The sum borrowed was

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A sum of money Is paid back In two annual Instalments of Rs. 17.640 each, allowing 5% compound Interest compounded annually. The sum borrowed was
1). Rs.32,800
2). Rs.32,200
3). Rs.32,000
4). Rs.32,400

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2 answers

3 vote
Answered by on | Votes 3 |
Its very simple question Rs.32,800 is the correct answer.

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0 vote
Answered by on | Votes 0 |

. Sum borrowed = Present worth
of Rs. 17640 due 1 year hence
+ Present worth of Rs. 17640
due 2 years hence

Rs. (16800 + 16000)
= Rs. 32800




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