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Simple Interest
If rupee two produces rupees eleven over a period of 30 years, find the rate of simple interest ?
17.25 %
18.14 %
18.33 %
17.35 %
Correct Answer:
18.33 %
Explanation:
We know that I = PTR/100
11 = (2x30xR)/100
R = 18.333 %
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