A sum of money is borrowed and paid back in two equal yearly instalments of Rs. 6615. If the rate of interest is 5% per annum, compounded yearly, then how much is the interest paid under this scheme?

A sum of money is borrowed and paid back in two equal yearly instalmen

1.	A sum of money is borrowed and paid back in two equal yearly instalments of Rs. 6615. If the rate of interest is 5% per annum, compounded yearly, then how much is the interest paid under this scheme?
A.	Rs. 930
B.	Rs. 920
C.	Rs. 900
D.	Rs. 880
Answer» B. Rs. 920

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A sum of money is borrowed and paid back in two equal yearly instalments of Rs. 6615. If the rate of interest is 5% per annum, compounded yearly, then how much is the interest paid under this scheme?

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