A person borrows certain sum of money from bank at 20% interest rate. He repays the same in three instalments of
2400, 2520 and 2592 rupees at the end of 1st, 2nd and 3rd year respectively. Find the sum borrowed.
(a) 5000 rupees
(b) 6250 rupees
(c) 6000 rupees
(d) 5250 rupees
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Ch : Simple Interest & Compound Interest
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(b) 6250 rupees is the correct answer
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