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Saturday, December 15, 2018

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

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(1060910000104100)=104.50

x(10609100001040010000)=104.50

x(106091040010000)=104.50

x(20910000)=104.50

x=104.5010000209

x=Rs 5000

Nithin K
answered Nov 23 '2016 at 21:26

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