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A man borrowed some money and agreed to ...

A man borrowed some money and agreed to pay- off by paying Rs 3150 at the end of the 1st year and Rs 4410 at the end of the 2nd year. If the rate of compound interest is `5%` per annum, then the sum is:

A

`Rs. 5000 `

B

`Rs. 6500`

C

`Rs. 7000`

D

`Rs.9200`

Text Solution

Verified by Experts

The correct Answer is:
C
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