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      Question

      A sum of Rs.8 is lent to be returned in 9 months

      installments of Rs.1 each, interest simple. The rate of interest is: -
      A 26.66% Correct Answer Incorrect Answer
      B 33.33% Correct Answer Incorrect Answer
      C 21.81% Correct Answer Incorrect Answer
      D 18.18% Correct Answer Incorrect Answer

      Solution

      Net Interest = 9 - 8 = Rs. 1 1 = (8 + 7 +โ€ฆ..1) x R x 1/(12 x 100) 1= 36 x R/1200 R = 1200/36 = 100/3 %ย 

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