6.27 Mr. Prakash buys a scooter with a bank loan of Rs. 6,000. An instalment of Rs....

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6.27 Mr. Prakash buys a scooter with a bank loan of Rs. 6,000. An instalment of Rs. 300 is payable to the bank for each of 24 months towards the repayment of loan with inter- est. What interest rate does the bank charge?

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