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On a sum of money for 2 years compound interest and simple interest are 550 and 500. Find the rate of interest (in per annum) .
Question

On a sum of money for 2 years compound interest and simple interest are 550 and 500. Find the rate of interest (in per annum) .

A.

40%

B.

10%

C.

20%

D.

30%

Correct option is C

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