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Question

SIMPLE INTEREST :

 

Arjun invested a sum of money at a certain rate of simple interest for a period of ten years. Had he invested the same sum for a period of fifteen years for the same rate, the total interest earned by him would have increased eighty percent more than the earlier
interest amount. Find the rate of interest p.a.?

  • 10%
  • 11%
  • 13%
  • 14%
  • Cannot be determined
Answer- E

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