A borrowed sum was paid in the two annual installments of ₹ 121 each. If the rate of compound interest is 10% pa, what sum was borrowed?

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Accepted Answer

According to the question, Borrowed sum = [121/{1/(1 + 10/100)}] + 121/(1 + 10/100)2 = 121/(11/10) + 121/{(11/10) x (11/10)] =110 + 100 = ₹ 210

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