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I read that in load time binding logical and physical addresses are identical. How is this possible ?

In load time binding, we have relocatable code as we don't know where will the process reside in main memory. At load time, the loader binds this relocatable address to physical address.

Now, suppose we have a relocatable address like "23" then it will be bound to say "300(base address)+23" = 323 of main memory at load time.

How are they same ?

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