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Question
The simple interest accrued 9 years on a principal of Rs. 24250 is 162 percent of the principal. What is the rate of interest p.c.p.a?
Options:
A .  22
B .  16
C .  18
D .  Cannot be determined
E .  None of these
Answer: Option C


Interest/Principal  = 162/100

Rate = (Interest/Principal)  * (100/Time)

= (162/100) * (100/9) = 18 % per annum



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