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Q. The compound interest on a certain sum of money at a certain rate for 2 years is Rs. 40.80 and the simple interest on the same sum is Rs. 40 at the same rate and for the same time. The rate of interest is = ?

  • (A) 2% per annum
  • (B) 3% per annum
  • (C) 4% per annum
  • (D) 5% per annum
  • Correct Answer - Option(C)
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