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      Question

      The simple interest on a sum of Rs X in 5 years is

      (2/5)of the principal. What is the annual rate of interest?
      A 8% Correct Answer Incorrect Answer
      B 14% Correct Answer Incorrect Answer
      C 16% Correct Answer Incorrect Answer
      D 12% Correct Answer Incorrect Answer

      Solution

      Let the value of X =100 So simple interest =100Γ—2/5=40. Rate = (40Γ—100)/100Γ—5 =8%

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