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Question
Which among the following rate of interest yields an interest of ₹ 200 for the principle of ₹ 2,000 for one year
Options
10%
20%
5%
15%
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Solution
10%
Explanation;
Hint: r = `("I" xx 100)/("P" xx "n")`
= `(200 xx 100)/(2000 xx 1)`
= 10%
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