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    • Question

      A farmer took a loan from a finance company for buying

      fertilisers, which had to be repaid in two equal annual instalments each of ₹5,512.50. If the rate of interest was 5% p.a., compounded yearly, then the total interest paid by the farmer was:
      A ₹664 Correct Answer Incorrect Answer
      B ₹775 Correct Answer Incorrect Answer
      C ₹780 Correct Answer Incorrect Answer
      D ₹810 Correct Answer Incorrect Answer

      Solution

      The correct answer is B

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