0 0 votes A sum of rs. 10 is lent to be returned in 11 monthly installments of rs.1 each , interest being simple. the rate of interest is? Quantitative Aptitude + – parul sharma 30 points 7.4k views answer comment Share Follow Print 0 reply Please log in or register to add a comment.
0 0 votes Total amount to be paid back = 11₹, which should be equal to Principal + Simple Interest. Here Principal = 10₹, so simple interest = 1₹. Simple Interest = (principal x rate of interest x time period)/100. So rate of interest = (S.I. x 100)/(principal x timeperiod). Rate of interest = (1 x 100)/(10 x 11) = 10/11= 0.91% per month. अनुराग पाण्डेय answered Sep 25, 2015 अनुराग पाण्डेय 1.5k points comment Share Follow See all 4 Comments 4 4 Comments reply parul sharma 30 points commented Sep 25, 2015 reply Follow flag Sir , i had also solved lyk this bt this z nt a correct ans..answer is 21 9/11 % 0 0 replyShare अनुराग पाण्डेय 1.5k points commented Sep 25, 2015 reply Follow flag I don't think my procedure is wrong, however if we have to calculate rate of interest per annum then by changing time from months( = 11) to years (= 11/12), rate of interest will be 120/11 = 10.91% PER ANNUM. 1 1 replyShare tiger 54 points commented Dec 12, 2015 reply Follow flag 120/11 per annum 0 0 replyShare Arjun 8.1k points commented Dec 13, 2015 reply Follow flag I guess for installment they took time period as t/2. 0 0 replyShare Please log in or register to add a comment.
