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A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at simple interest. What is the rate of interest?

Question: A sum of Rs. 12,500 amounts to Rs. 15,500 in 4 years at simple interest. What is the rate of interest?
  • A. 3%
  • B. 4%
  • C. 5%
  • D. 6%
Correct Answer: D. 6%

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