A sum of money is borrowed and paid back in two equal annual instalments of Rs 882 each allowing 5% p.a. compound interest. What is the sum borrowed? Options: A . &nbspRs 1050 B . &nbspRs 1380 C . &nbspRs 1640 D . &nbspRs 1760

A sum of money is borrowed and paid back in two equal annual instalments of R

Question

A sum of money is borrowed and paid back in two equal annual instalments of Rs 882 each allowing 5% p.a. compound interest. What is the sum borrowed?

Options:

A . Rs 1050

B . Rs 1380

C . Rs 1640

D . Rs 1760

Answer: Option C

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