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Anu borrowed Rs.800 at rate of interest 10% . He repaid Rs.400 at the end of first year.What is the amount required to repay at the end of second year to discharge his loan which was calculated at compound interest?
Rs.650
Rs.528
Rs.490
Rs.780
Amount paid at the end of 1 year = 800[1 + 10/100] = 880 Amount left as principal for the second year = 880-400 = 480 Amount to be paid after 2nd year = 480 [1 + 10/100] = Rs.528
Hence, option 2 is the correct answer.
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