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CI for 2 years=₹2781. SI for 2 years at same rate=₹2700. Find rate of interest.

1. 12%
2. 8%
3. 6%
4. 3%

Correct answer: 6%

Solution

For 2 years: CI-SI=P×(R/100)²=81. SI=2×P×R/100=2700 → PR/100=1350. Dividing: R/100=81/1350=0.06 → R=6%.

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