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A person invested a sum of Rs.750 in a bank at simple interest. After 5 years he received Rs.1200. Find the rate of interest offered by the bank.

Option 1)

10% p.a

Option 2)

11% p a

Option 3)

14% p a

Option 4)

12% p.a

Option 5)

20% p.a

Answers (1)

best_answer

$1200 -750 = 450$

$450 = \frac{\left \{ 750\times 5\times R \right \}}{100}= R = \frac{900}{75}$

$= 12$ %

Posted by

rishi.raj

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