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Bank X pays a simple interest of $80 on ...

Bank X pays a simple interest of $80 on a principal of $1,000 annually. Bank Y pays a simple interest of $140 on a principal of $1,000 annually. What is the ratio of the interest rates of Bank X to Bank Y ?

A

`5 : 8`

B

`8 : 5`

C

`14 : 8`

D

`4 : 7`

Text Solution

Verified by Experts

The correct Answer is:
D
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