Mathematics
Medium
Question
A money lender borrows money at 4% P.a and pays interest at the end of the year. He lends it at 6% P.a compound interest compounded half-yearly and receives the interest at the end of the year. Thus be gains Rs 104.50 a year. The amount of money he borrows is_________?
A
Rs 4500
B
Rs 5000
✓ Official correct answer
C
Rs 5500
D
Rs 6000
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A
Rs 4500
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B
Rs 5000
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C
Rs 5500
No member explanations yet for this option.
D
Rs 6000
No member explanations yet for this option.