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A person deposits Rs. 500 for 2 years, R...

A person deposits Rs. 500 for 2 years, Rs. 600 for 5 years and Rs. 1000 for 6 years at the same rate of simple interest if he receives a simple interest of Rs. 1000, then the rate of interest per year is ?

A

`15%`

B

`20%`

C

`5%`

D

`10%`

Text Solution

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The correct Answer is:
D
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