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The monthly income of Mr. Roy is Rs.18,000. He took a loan of Rs.30,000 on simple interest for 3 years at the rate of 5% per annum. The amount that he
Question

The monthly income of Mr. Roy is Rs.18,000. He took a loan of Rs.30,000 on simple interest for 3 years at the rate of 5% per annum. The amount that he will be paying as simple interest in 3 years is what percent of his monthly salary?

A.

30%

B.

35%

C.

20%

D.

25%

Correct option is D

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