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: -Solution
Net Interest = 9 - 8 = Rs. 1 1 = (8 + 7 +…..1) x R x 1/(12 x 100) 1= 36 x R/1200 R = 1200/36 = 100/3 %Â
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