A money-lender borrows money at 4% per annum and pays the interest at – McqOptions

MCQOPTIONS

1.	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 104.50 a year. The amount of money he borrows, is
A.	6,000
B.	5,500
C.	5,000
D.	4,500
Answer» D. 4,500

Discussion

No Comment Found

Related MCQs

A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1 January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest is:
What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1 January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest is:
What is the difference between the compound interests on Rs. 5000 for 1 years at 4% per annum compounded yearly and half-yearly?
What amount will be received on a sum of 15000 in 11/4 yr at 12% pa, if interest is compounded quarterly?
What amount will be received on a sum of 1750 in 21/2 yr, if the interest is compounded at the rate of 8% pa?
What will be the compound interest of Rs. 8000 at 10% p.a. for 11/2 years. When compound interest is payable half yearly ?
A man borrows Rs. 4000 from a bank at 71/2% compound interest. At the end of every he pays Rs. 1500 as part repayment of loan and interest. How much does he still owe to the bank after there such installments ?
The compound interest of Rs. 20480 at 61/4% per annum for 2 years 73 days is ?
If the compound interest on a sum for 2 years at 121p.a is 510, 2the simple interest on the same sum at the same rate for the same period of time is