Question

a money lender borrows 5000 Rupees at 4% per annum and pays the interest at the end of the year, compounded annually. He lends 6% per annum, interest being compounded half-yearly, and receives the interest at the end of the year. How much does it gain?
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Answer 1

Answer:

Let the amount of money he borrows be Rs. x  

Then Interest paid by the money lender =  

100

x×4×1

​

= Rs.  

100

4x

​

 

Interest received by the money lender =x[(1+  

100

3

​

)  

2

−1]

=x[  

(100)  

2

 

(103)  

2

 

​

−1]=x[  

10000

103  

2

−100  

2

 

​

]

=x[  

10000

(103+100)(103−100)

​

]=  

10000

609x

​

 

Given,  

1000

609x

​

−  

100

4x

​

=104.50

⇒  

10000

209x

​

=104.50

⇒209x=1045000  

⇒x=  

209

1045000

​

= Rs. 5000

Step-by-step explanation:

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