ExamTonight – Largest MCQs and Forums Website

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
C. Rs 5500
D. Rs 6000

Leave a Comment

Your email address will not be published. Required fields are marked *