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The present worth of bill due 7 months, ...

The present worth of bill due 7 months, hence is Rs. 1200. if the bill were due at the end of 2.5 years, its present worth would be Rs1016. Find the rate of interest of the bill.

A

0.05

B

0.1

C

0.15

D

0.2

Text Solution

Verified by Experts

The correct Answer is:
B
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