A sum of money borrowed and paid back in two | vedclass

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Question

Annual instalment $=₹ 882, R =5 \%$

$	herefore \quad$ Required amount $=\frac{882}{\left(1+\frac{5}{100}ight)^{2}}+\frac{882}{\left(1+\frac{5}{1

Vedclass · Accepted Answer

$1640$

Vedclass · Answer

Annual instalment $=₹ 882, R =5 \%$

$	herefore \quad$ Required amount $=\frac{882}{\left(1+\frac{5}{100}ight)^{2}}+\frac{882}{\left(1+\frac{5}{100}ight)}$

i.e., Amount borrowed $=\frac{882}{\left(\frac{21}{20}ight)^{2}}+\frac{882}{\left(\frac{21}{20}ight)}$

$=882\left[\left(\frac{20}{21}ight)^{2}+\left(\frac{20}{21}ight)ight]=882\left[\frac{20^{2}+20 	imes 21}{21^{2}}ight]$

$=2[400+420]=₹ 1640$

A sum of money borrowed and paid back in two annual instalments of ₹ $882$ each allowing $5 \%$ compound interest. The sum (In ₹) borrowed was

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