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      Question

      A sum of Rs.100 is lent to be returned in 110 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 = 110 - 100 = Rs. 10 10 = (100 + 90 +…..10) x R x 10/(12 x 100) 1= 550 x R/1200 R = 1200/550 = 2.18 %

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