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Question

A bank gives out Rs 6000 to Customer A for 2 years and Rs 1500 to customer B for 4 years. It receives interest of Rs 900 from them put together. Find the rate of interest (SI)?
  1. 5%
  2. 7.5%
  3. 12.5%
  4. 10%


Solution

The correct option is A 5%

Rs 6000 for 2 years Rs 12000 for 1 year and Rs 1500 for 4 years Rs 6000 for 1 year

Total Principal = Rs 18000 for 1 year

= 5%

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