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Question 73 Quantitative Ability 2017 Medium MCQ +1.00 marks

Piyush takes a loan of ₹ 10000. After 1 yr, he takes another loan of ₹10000 at double the rate of interest. If he has to pay interest at simple rate of interest and settles the loan by paying ₹ 23600 at the end of two years, what is the initial rate of interest he has to pay?

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