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1. The sum of principal and simple interest of a certain amount of money would be Tk. 460- after 3 years from now and Tk. 500 after 5 years from now. What is the total interest rate?
- A. 5%
- B. 5%
- C. 5%
- D. 5%
Answer: Option A
Explanation:
Interest in 2 years=500-460=40 taka
So, Interestper year=40/2=20 taka
So, Principal=460-(3×20)=400 taka
So, r=(I/pn)×100%
=(20/400)×100%
=(1/20)×100%
=5%
(ans).
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