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What sum will discharge a debt of Rs. 5300 due a year and a half hence at 4% per annum?

Rs. 5000
Rs. 4500
Rs. 4200
Rs. 5250

Correct Answer: Rs. 5000

Explanation:

Required sum = (100 x 5300) / {(100 + (3/2) x 4)}
= (100 x 5300) / 106 = Rs. 5000

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