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Q.
A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at the rate of simple interest. What is the rate of interest
A.
0.03
B.
0.04
C.
5%
D.
0.06
View Answer
Correct choice: D
Explanation:
S.I. = Rs. (15500 - 12500) = Rs. 3000. Rate = (100*3000/12500*4) % = 6%
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