Question : A person borrowed some money at simple interest. After 4 years, he returned
Option 1: 25% per annum
Option 2: 10% per annum
Option 3: 15% per annum
Option 4: 20% per annum
Correct Answer: 20% per annum
Solution :
Let the amount of money borrowed
The amount he returned to the lender
Simple Interest
Time = 4 years
We know, Simple interest
⇒
Hence, the correct answer is 20%.
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