Mathematics · Compound Interest
Shankar borrows some money at the rate of 40% per annum compound interest, which is compounded half-yearly, and he lends the same amount at the same rate of interest, compounded quarterly. If he earns ₹3,133 at the end of one year, find the amount borrowed.
- 1₹1,20,000
- 2₹1,30,000✓
- 3₹1,40,000
- 4₹1,13,000
Correct answer
₹1,30,000
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