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 half yearly 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 - Study24x7
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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 half yearly 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

A

Rs. 6000

B

Rs. 5500

C

Rs. 5000

D

Rs. 4500

SSC Banking Railways
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