A money - lender borrows money at 4% per annum and pays the
A money - lender borrows money at 4% per annum and pays the interest at the end of the year. He lends it at 6% per annum compound interest compounded halfy early and receives the interest at the end of the year. In this way, he gains Rs.104.50 a year. The amount of money he borrows, is
ARs.6,000
BRs.5,500
CRs.5,000
DRs.4,500
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Answer is : Rs.5,000
Let he borrowed Rs x
borrows money at 4% per annum and pays the interest at the end of the year
Amount he has to return = 104x100
Amount he will get = (1+3100)2=1060910000x
His gain = 1060910000x=104100x=104.50
x(1060910000−104100)=104.50
x(1060910000−1040010000)=104.50
x(10609−1040010000)=104.50
x(20910000)=104.50
x=104.50∗10000209
x=Rs 5000
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