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1. What is the annual interest rate on an account that carns Tk. 948 in simple interest over 36 months with an initial deposit of Tk. 7900?
- A. 40%
- B. 40%
- C. 40%
- D. 40%
Answer: Option B
Explanation:
I = P*n* r
n = 36months = 3 years
r = ?
Here, 948 = 7900 * 3 * r
r = 4 %
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