MCQ Practice
A money lender borrows money at 6% 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. 108 a year. The amount of money he borrows, is:
Subject: MathematicsTopic: Compound Interest
Correct Answer: A
