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M Question 1
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A businessman borrowed a sum at 6% per annum for the first 2 years. He then renegotiated the terms and paid interest at 8% per annum for the next 4 years. For the remaining 4 years, the rate increased to 10% per annum. If the total simple interest paid over the 10 years was ₹33,600, what was the original amount borrowed? (a) Rs. 35000 (b) Rs. 38000 (c) Rs. 40000 (d) Rs. 45000 |
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