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Interest received from scheme ‘A’ = 9000 × 10 × 2 ÷ 100 = Rs. 1800 Let the rate of simple interest offered by scheme ‘B’ = ‘k%’ p.a. ATQ; 7500 × 2 × k ÷ 100 = 1800 Or, 150k = 1800 Or, k = (1800/150) = 12 So, rate of simple interest offered by scheme ‘B’ = 12% per annum.
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