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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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