A sum of rs 10 is lent to be returned in 11 monthly installment of re 11. rate of interest ?

• Explanation :
  
  Amount borrowed = Rs.10
  
  Let rate of interest = R%
  
  Simple Interest for Rs.10 for 11 months at R% = )10×R×11)/12*100=10*R/1200
  i.e., 10+10R/1200 is due in 11 months
  
  Payment after 1st month = Rs.1
  
  Interest for this Rs.1 for the remaining 9 months = 1×R×10/1200
  
  Payment after 2nd month = Rs.1
  
  Interest for this Rs.1 for the remaining 8 months = 1×R×9/1200⋯
  
  Payment after 9th month = Rs.1
  
  Interest for this Rs.1 for the remaining 1 month = 1×R×11/1200
  
  Payment after 11th month = Rs.1 and this closes the loan
  
  10+100R/1200=11×1+1×R×10/1200+1×R×9/1200+⋯
  
  solve this
  u will get 21 9/11⎞⎠⎟⎟
  
• 9 years agoHelpfull: Yes(4) No(1)
• Is the sum Rs 10 or Rs 100 ?
• 11 years agoHelpfull: Yes(2) No(1)
• A sum of Rs 10 is lent to be returned in 11 monthly instalments of Re 1 each,interest being simple.The rate of interest is?
  a)100/11 b)10 c)11 d)240/11
  please somebody explain this..
• 10 years agoHelpfull: Yes(2) No(2)