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Amit borrowed Rs 8000 from a moneylender...

Amit borrowed Rs 8000 from a moneylender with Simple interest for as many years as therate ofinterest. If he paid ₹2000 asinterest at the end of loan period, what was therate of interest?

A

5%

B

7%

C

6%

D

8%

Text Solution

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The correct Answer is:
A
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