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    Question

    A sum of Rs.80 is lent to be returned in 90 months

    installments of Rs.10 each, interest simple. The rate of interest is: -
    A 2.66% Correct Answer Incorrect Answer
    B 3.33% Correct Answer Incorrect Answer
    C 2.18% Correct Answer Incorrect Answer
    D 1.81% Correct Answer Incorrect Answer

    Solution

    Net Interest = 90 - 80 = Rs. 10 10 = (80 + 70 +…..10) x R x 10/(12 x 100) 1= 360 x R/1200 R = 1200/360 = 3.33 %

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