Question
A sum of Rs.10 is lent by a child to his friend to be
returned in 11 monthly instalments of Rs.1 each, the interest being simple. The rate of interest is: type-sscSolution
11+11r/240 =10+11r/120 (11r/120) -(11r/2400=1Â Â Â Â Â Â Â 11r =240 r = 240/11=21.8%
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