Question

Ramesh borrowed ₹15,000 at a certain rate of simple interest from a bank. He repaid (the principal but not interest) ₹6,000 after 5 years, and after 5 more years he paid ₹18,600 and settled his account. Find the rate of simple interest per annum.

A 12%
B 10%
C 8%
D 6%
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