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ICICI lent ₹ 1 lakh to captain Ram Singh @ 6% per annum of simple interest for 10 years period. Meanwhile ICICI offered a discount in rate of interest for armed forces. Thus the rate of interest ICICI decreased to 4%. In this way Ram Singh had to pay total amount 1.48 lakh. After how many year Ram Singh got the discount in rate of interest? |
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Answer» 3 YEARS |
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