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Question

Shankar borrowed Rs. 7,200 at simple interest and repaid

an amount of Rs. 9,504 after 7 years. If the interest rate p.a charged for first 4 years was 5% p.a., find the interest rate p.a. charged for the last 3 years.

A 2%

B 4%

C 6%

D 8%

E None of these

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Relevant for Exams:

Management Aptitude Test (MAT)

CBI Credit Officer (Scale 1)

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