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A man lends a certain sum of money and g...

A man lends a certain sum of money and gets an interest equal to `(1)/(16)` th of the principal. The time for which money was lent is equal to the rate of interest. Find the rate of interest per annum.

A

0.04

B

`3.5 %`

C

0.03

D

`2.5 %`

Text Solution

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The correct Answer is:
D
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