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A sum of Rs 12 ,000 was taken at simple ...

A sum of Rs 12 ,000 was taken at simple interest at some rate. After four months, Rs 6,000 more was added and the total principal was charged at double the earlier rate of interest. At the end of the year, if the to tal interest was '2,800, what was the initial rate of interest?

A

0.12

B

0.1

C

0.14

D

0.16

Text Solution

Verified by Experts

The correct Answer is:
B
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