10th Class Mathematics Related to Competitive Exam Question Bank Commercial Mathematics

  • question_answer
    A loan was repaid in two annual instalments of Rs. 1210 each. If the rate of interest be 10% per annum, compounded annually, the sum borrowed was

    A)  Rs. 2000

    B)  Rs. 2100  

    C)  Rs. 2300

    D)  Rs. 1900

    Correct Answer: B

    Solution :

     Principal = (P.W. of Rs. 1210 due 1 year hence) + (P.W. of Rs. 1210 due 2 years hence) \[=\left[ \frac{1210}{\left( 1+\frac{10}{100} \right)}+\frac{1210}{{{\left( 1+\frac{10}{100} \right)}^{2}}} \right]\]                 \[=Rs.2100\]


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