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JEE MATHEMATICS MCQ: SEQUENCE OF SERIES

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Jairam purchased a house in Rs 15000 and paid Rs 5000 at once. Rest money he promised to pay in annual installment of Rs 1000 with 10% per annum interest. How much money is to be paid by Jairam?
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Correct option: C
Rs 20500
Option C (Rs 20500) is correct because it is the total amount Jairam has to pay, including the initial payment and the sum of all installments with interest.

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