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Multiple choice

Mr. X borrows Rs. 500000 and repays the principal over the next 20 years in equal installments along with the interest accrued for the year. What amount would he have to pay as simple interest every year if the rate of interest is 10% p.a?

  1. Rs. 560000

  2. Rs. 540000

  3. Rs. 525000

  4. Rs. 500000

Reveal answer Fill a bubble to check yourself
C Correct answer

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