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A loan of $3000 is taken for 4 years at a Banker's Discount of $600. What is the

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Q1
A loan of $3000 is taken for 4 years at a Banker's Discount of $600. What is the rate of interest?
  1. 5%
  2. 6%
  3. 7%
  4. 8%

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A loan of $3000 is taken for 4 years at a Banker's Discount of $600. What is the rate of interest?
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