A sum of money was borrowed and paid back in two equal annua

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62

M: +2.00/-0.50

A sum of money was borrowed and paid back in two equal annual instalments of ₹980, allowing 4% compound interest. The sum (in₹, to the nearest tens) borrowed was:

[SSC CGL 11th April 2022 Shift-3 With Answers]

A

1,850

B

1,960

C

1,760

D

2,050

EXPLANATION

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