how do I formalise “there exists a real number whose multiplicative inverse is $5$” ?
Directly, without invoking reciprocals: $$\exists h{\in} \mathbb{R} \quad 5h=1.$$
$\exists h{\in} \mathbb{R} \quad \dfrac{1}{h}=5\tag1$
$\forall h{\in} \mathbb{R} \quad \dfrac{1}{h}\neq 5\tag2$
Do the two statements contain mathematical nonsense,
or are they actually not negations of each other?
Unlike sentences like $3\text{ implies and }1+1=2\tag*{}$ that violates syntactic rules, sentences (1) and (2) are well-formed, so certainly are logical negations of each other, having opposite truth values under every interpretation in which both are well defined.
In standard real analysis, sentence $(2),$ as well as the sentences
- $\frac10=5$
- $\forall x{\in}\left\{0,\frac15\right\}\;\frac1x\ne5$
- the reciprocal function with domain $\mathbb R{\setminus}\{0\}$ is continuous at $0$
are technically ill-defined (non-meaningful rather than merely false), since it is semantically invalid to refer to undefined objects or make illegal attributions, for example, to talk about a table's tail or $\frac1x$'s continuity at $0.$ Nonetheless, in (informal) mathematical practice, it is fine to just call them false statements. After all, observe that even the arguably well-defined statement $\forall x{\in}\mathbb R{\setminus}\{0\}\;\frac1x\ne5\tag*{}$ is just an abbreviation of $\forall x{\in}\mathbb R\;(x\ne0\implies\frac1x\ne5),\tag*{}$ which contains this illegitimate/ill-defined assertion: $0\ne0\implies\frac10\ne5.\tag*{}$