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Arithmetic Ability
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Q.
When $720 is invested for 36 months it earns $205.20 simple interest. Find the yearly interest rate.
A.
7.5%
B.
8.5%
C.
9.5%
D.
10.5%
View Answer
Correct choice: C
Explanation:
r = (100 x I)/(P x T)
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