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Question 71
₹ 775, invested for 6 years gives an interest of ₹ 372. The rate of simple interest per annum is:
Solution
$$Simple Interest =\frac{Principal \times Rate\times Time}{100}$$
$$372=\frac{775 \times R \times 6}{100}$$
$$R=\frac{100\times372}{775\times6}$$
$$R=8\%$$
Option A is correct.
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