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Q: Ravi borrows `1200 at the beginning of the year. Four months later, he borrows another 1800, at twice the interest rate. At the end of the year, the interest on both loans amounts to `216. What is the annual interest rate on the first loan? /
  • A. 9%
  • B. 6%
  • C. 8%
  • D. 12%
Correct Answer: Option B -
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Explanations:

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