A man borrows a sum of ₹1,025 and pays back in two equal y

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70

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A man borrows a sum of ₹1,025 and pays back in two equal yearly instalments. If the rate of interest is 5% p.a, compounded yearly, then how much is each instalments?

[SSC CHSL 9th June 2022 Shift-3 With Answers]

A

₹425.25

B

₹525.32

C

₹451.32

D

₹551.25

EXPLANATION

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