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What rate % is obtained by investing in 7% at 5 discount? (Brokerage 1/4 %)

7.35%
7.55%
7.05%
8%

Correct Answer: 7.35%

Explanation:

Required answer = [7 / (100 - 5 + 0.25)] x 100 = 7.349
= 7.35% (Approx. )

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