Mathematics · Interest
Anand borrows a certain sum from Manisha at a certain rate of simple interest for 2 years. He lends this sum to Sunita at the same rate of interest but compounded annually for the same period of 2 years. At the end of 2 years, he receives Rs. 2400 as compound interest, but paid Rs. 2000 as simple interest. What is the rate of interest per annum?
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