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A fan is sold for Rs. 900 cash payment of Rs. 200 down payment followed by two equal monthly installments of each Rs. 375. The annual rate of interest is ____ (approximately) (a) 25 % (b) 30 % (c) 54 % (d) 59 % |
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Answer» (d) 59% A fan is sold for Rs. 900 cash payment of Rs. 200 down payment followed by two equal monthly installments of each Rs. 375. The annual rate of interest is 59% (approximately). |
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