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(B) Let the sum borrowed be $P$. The formula for the annual instalment $I$ for a loan repaid in $n$ equal annual instalments at a rate of $R \%$ per a

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$1640$

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(B) Let the sum borrowed be $P$. The formula for the annual instalment $I$ for a loan repaid in $n$ equal annual instalments at a rate of $R \%$ per annum compound interest is given by $P = \sum_{k=1}^{n} \frac{I}{(1 + R/100)^k}$.Given $I = ₹ 882$,$R = 5 \%$,and $n = 2$.$P = \frac{882}{(1 + 5/100)^1} + \frac{882}{(1 + 5/100)^2}$$P = \frac{882}{21/20} + \frac{882}{(21/20)^2}$$P = 882 	imes \frac{20}{21} + 882 	imes \frac{400}{441}$$P = 42 	imes 20 + 2 	imes 400$$P = 840 + 800 = ₹ 1640$.

$A$ sum of money is borrowed and paid back in two annual instalments of ₹ $882$ each,with $5 \%$ compound interest per annum. The sum (in ₹) borrowed was:

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