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Paras takes loan of Rs. 40,000 on the condition that he would pay it in the monthly instalment of Rs. 5,000. He has to pay interest @ 16% on the outstanding balances, then what is the average rate of interest received by the creditor per annum.a)12.5%b)9%c)4(1/2)%d)12%Correct answer is option 'B'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about Paras takes loan of Rs. 40,000 on the condition that he would pay it in the monthly instalment of Rs. 5,000. He has to pay interest @ 16% on the outstanding balances, then what is the average rate of interest received by the creditor per annum.a)12.5%b)9%c)4(1/2)%d)12%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Paras takes loan of Rs. 40,000 on the condition that he would pay it in the monthly instalment of Rs. 5,000. He has to pay interest @ 16% on the outstanding balances, then what is the average rate of interest received by the creditor per annum.a)12.5%b)9%c)4(1/2)%d)12%Correct answer is option 'B'. Can you explain this answer?.

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