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Raju lent Rs.400 to Ajay for 2 years and Rs.100 to manoj for 4 years and received from both Rs.60 as collective interest. Find the rate of interest, Simple interest being calculated.

A5%

B6%

C8%

D9%

Answer:

A. 5%

Read Explanation:

According to the question (R x 400 x 2)/100 + (R x 100 x 4)/100 = 60 12R = 60 R = 60/12 = 5%


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