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Interest obtained on a sum of Rs. 5000 for 3 years is Rs. 1500. Find the rate percent.

A. 8% B. 9% C. 10% D. 11% Answer: Option C
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Solution(By Apex Team)

Let Rate is R% We have, $\begin{array}{l} I=\frac{P T R}{100} \\ \text { Here, } 1500=\frac{5000 \times 3 \times R}{100} \\ \text { Thus, } R=10 \% \end{array}$

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