A sum of Rs.10 is lent to be returned in 11 monthly instalments of Rs.1 each, interest being simple. the rate of interest is what % ?

• r=1*100*12/(10*11)=10.9% yearly
• 7 years agoHelpfull: Yes(1) No(0)
• S.I = (Principal*rate*time)/100
  as per the question
  S.I=1,t=11,Principal=10;
  so r=(1*100)/(10*11);
  rate is .90
  
• 7 years agoHelpfull: Yes(0) No(0)