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The simple interest on Rs.1250 increases by Rs250 when the time increases by 2 years. Find the rate of interest per annum. |
10% 12% 14% 15% |
10% |
The increase in interest is due to time ⇒ \(\frac{1250\;×\;2\;×\;rate}{100}\) = 250 ⇒ rate = 10% |
