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A loan has to be returned in two equal y...

A loan has to be returned in two equal yearly instalments each of Rs 44,100. If the rate of interest is 5% p.a., compounded annually, then the total interest paid is :

A

Rs. 6,000

B

Rs. 6,280

C

Rs. 5,840

D

Rs. 6,200

Text Solution

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The correct Answer is:
D
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