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Question

At what rate will a sum increase by 40% in 2 Yr at SI ?

A 18%
B 20%
C 22%
D 25%
Answer & Explanation
Option: [B]

Let the initial amount be Rs.100

After 2 Yrs. the sum will be Rs.140

Calculated SI is Rs.40

Now we can calculate the rate of interest from the formula given below :

R=(SIx100)/(PxT)

R=(40x100)/(100x2)

R=20%

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