Correct Answer: Option A
{15000×(1+R/100)2 – 15000}-(15000×R×2/100) = 96
=> 15000{(1+R/100)2 - 1- 2R/100} = 96
=> 15000{(100+R)2 – 10000 – (200×R)/10000} = 96
=> R2 = (96×2/3) = 64
=> R2 = 8
So, Rate = 8%
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