A sum of money is paid back in two annual installments of Rs 17640

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1. A sum of money is paid back in two annual instalments of Rs. 17, 640 each, allowing 5% compound interest compounded annually. The sum borrowed was

1. 1. Rs. 32,800
   2. Rs. 32,200
   3. Rs. 32,000
   4. Rs. 32,400

According to question , Sum borrowed = Present worth of Rs. 17640 due 1 year hence + Present worth of Rs. 17640 due 2 years hence

= Rs.		17640 ×	20	+ 17640 ×	20	×	20
21	21	21

sum borrowed = Rs. (16800 + 16000) = Rs. 32800

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