Question

A sum of money is burrowed and paid back in two annual instalments of rupees 882 each allowing 5% compound interest.

Answer 1

⛦Hᴇʀᴇ Is Yoᴜʀ Aɴsᴡᴇʀ⚑
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➧ Compound interest is:

➧ P = x / (1 +r / 100) +
　　 x / (1 + r / 100)²
　　 x / (1 + r / 100)ⁿ

➧ Here, we have to find P given:
➾ x = 882
➾ r = 5
➾ n = 2

➧ On substituting the values we get:

➧ P = 882 / (1 + 5 / 100) +
　　 882 / (1 + 5 / 100)²

➧ p = 882 × 20 / 21 +
　　 882 × 400 / 441

➾ P = 840 + 800
➾ p = 1640 ...✔

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Thanks...✊