Mathematics
NULL
Medium
Question
A moneylender borrows at 4% p.a. and lends at 6% p.a. CI compounded half-yearly, gaining Rs.104.50 a year. How much does he borrow?
A
Rs 4500
B
Rs 5000
✓ Official correct answer
C
Rs 5500
D
Rs 6000
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A
Rs 4500
No member explanations yet for this option.
B
Rs 5000
No member explanations yet for this option.
C
Rs 5500
No member explanations yet for this option.
D
Rs 6000
No member explanations yet for this option.
Explanation
He pays 4% and receives (1.03)² − 1 = 6.09%. Gain = 2.09% of P = 104.50 ⇒ P = Rs.5000.