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The present value of a bill, drawn on 01 Jan 2016 due on 31 Dec 2017 is Rs. 1,250. If the bill were due on 30 Nov 2017, its present worth would be Rs. 1,200. Find the rate of interest and the sum.

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The present value of a bill, drawn on 01 Jan 2016 due on 31 Dec 2017 is Rs. 1,250. If the bill were due on 30 Nov 2017, its present worth would be Rs. 1,200. Find the rate of interest and the sum.






 
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