Question
A money-lender borrows money at 5% per annum and pays the interest at the end of the year. He lends it at 12% per annum compound interest compounded half yearly and receives the interest at the end of 6 months. In this way he gains Rs. 2,944 a year. The amount of money he borrows, is (in rupees)
More Compound Interest Questions
- Find the compound amount and compound interest on Rs 10,000 at 10% per annum for 2 years, compounded annually.
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