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Tejpal Singh lends Savita money for four months at an interest rate of:
A4 percent
B12 percent
C2 percent
D24 percent
Answer & Solution
Correct answer: D. 24 percent
1. Savita needs 3000 rupees of working capital.
2. She borrows from a large farmer.
3. The rate is 24 percent, which is very high.
_Source: NCERT Class 9 Economics, Chapter 1, The Story of Village Palampur._
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