Question
A sum of Rs.15 is lent to be returned in 16 months
installments of Rs.1 each, interest simple. The rate of interest is: -Solution
Net Interest = 16 - 15 = Rs. 1 1 = (15 + 14 ā¦..1) x R x 1/(12 x 100) 1= 120 x R/1200 R = 1200/120 = 10 %Ā
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