A money lender borrows money at 4% per annum and pays the interest at the end of

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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 be borrows, is ?

Options:

A . Rs. 4500

B . Rs. 5000

C . Rs. 5500

D . Rs. 6000

Answer: Option B

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