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A sum of ₹6000 amounts to ₹7200 in 4 years at simple interest. What is the rate of interest per annum?

Competition practiceSimple & Compound Interest
  • A4
  • B6
  • C8
  • D5

Step-by-Step Solution

Simple interest = 7200 - 6000 = 1200. Rate = % per annum.
Answer: D) 5

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