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: -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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