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| | Question 31
A money lender borrows money at 5% per annum and pays the interest at the end of the year. He lends it at 8% per annum compound interest compounded half-yearly and receives the interest at the end of the year. In this way, he gains Rs 120.08 a year. The amount of money he borrows.
(A)
Rs 3200
(B)
Rs 3400
(C)
Rs 3800
(D)
Rs 4200
Answer
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