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Simple interest of ₹2,880 is earned on ₹12,000 in 3 years. Find the rate of interest per annum (in %).
Ravi wants to deposit ₹20,000 for 2 years at 10% per annum. His bank offers three schemes. Scheme 1: simple interest. Scheme 2: compound interest, compounded annually. Scheme 3: compound interest, compounded half-yearly.
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