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A loan was repaid in two annual instalment of ₹ 1089 each. If the rate of interest be 10% per annum compounded annually, the sum borrowed was ?
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- ₹ 1840
- ₹ 1890
- ₹ 1850
- ₹ 1860
Correct Option: B
Principle = ₹ 1089
∴ P/{(1 + 10/100) + (1 + 10/100)2 } = 1089
⇒ P = {(1089 x 10/11) + (1089 x 100/121)} = (990 + 900) = ₹ 1890
