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.Management Sciences
A. 18% p.a.
B. 22% p.a.
C. 20% p.a.
D. 24% p.a.
E. None of these.
Explanation:
Rs.1440 – 1200 = Rs.240 is the interest on Rs.1200 for one year.
Rate of interest = (100 * 240) / (100 * 1) = 20% p.a
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