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X took a loan of Rs5000 on simple intere...

X took a loan of Rs5000 on simple interest, the rate of interest being the same as the number of years for which the loan was taken. If the interest paid was Rs1800, then what was the rate of interest?

A

`6.5 % `

B

`6% `

C

`5%`

D

`5.5%`

Text Solution

Verified by Experts

The correct Answer is:
B
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