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A person took a loan of ₹ 4000 from a bank at tha rate of 7% simple interest per annum and just after 1 year he took another loan of ₹ 4000 from the same bank at the rate of 8% simple interest per annum. Calculate after how many years of taking the secoond loan, the interest of his two loans will be equal . |
| Answer» Correct Answer - 7 years , | |