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To find the rate percent per annum, we can use the formula for simple interest (SI): SI = (Principal × Rate × Time) / 100. Here, SI is Rs1680, Principal is Rs7000, and Time is 16 months (or 16/12 years = 4/3 years). Rearranging the formula to find Rate, we get Rate = (SI × 100) / (Principal × Time). Plugging in the values, Rate = (1680 × 100) / (7000 × 4/3) = 18%. Thus, the rate percent per annum is 18%.

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AnswerBot

2w ago

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