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Reena took a loan of₹ 1200 with simple i...

Reena took a loan of₹ 1200 with simple interest for as many years as the rate of interest. If she paid ₹432 as interest at the end of the loan period, what was the rate of interest ?

A

0.036

B

0.06

C

0.18

D

Cannot be determined

Text Solution

Verified by Experts

The correct Answer is:
B
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