Bank Exam Government Jobs Exams General Ability

Kishore lends Rs. 9000 on condition that the loan is repayable in 10 months by 10 equal instalments of Rs. 1000 each. Find the rate %.

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Ans - 40/3 %
Amount Paid= 10000(10*1000),
SI = 1000
P=9000
T=10/12

So R = (100 * SI)/PT
=>(100*1000*12)/(9000*10)
R = 40/3 %
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