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At what rate percent per annum will ₹2000 amount to ₹2400 in 2 years at simple interest?

Competition practiceSimple & Compound Interest

A8%
B10%
C12%
D5%

Step-by-Step Solution

SI = 2400 − 2000 = 400.

R

= (SI × 100) ÷

(P \times T) = (400 \times 100) \div (2000 \times 2) = 10

%.

Answer: B) 10%

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