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A loan was repaid in two annual instalment of ₹ 1089 each. If the rate of interest be 10% per annum compounded annually, the sum borrowed was?

₹ 1840
₹ 1890
₹ 1850
₹ 1860

Correct Answer: ₹ 1890

Explanation:

Principle = ₹ 1089
∴ P/{(1 + 10/100) + (1 + 10/100)² } = 1089
⇒ P = {(1089 x 10/11) + (1089 x 100/121)} = (990 + 900) = ₹ 1890

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