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      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-ssc
      A 20.7% Correct Answer Incorrect Answer
      B 21.8% Correct Answer Incorrect Answer
      C 17.8% Correct Answer Incorrect Answer
      D 19.2% Correct Answer Incorrect Answer

      Solution

      11+11r/240 =10+11r/120 (11r/120) -(11r/2400=1┬а┬а┬а┬а┬а┬а┬а 11r =240 r = 240/11=21.8%

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