a sum of rs.10 is lent to be returned in 11 monthly installmentsof re.1 each, interest being simple. The rate of interest is:
a.100/11%
b.10%
c.11%
d.240/11%

• 240/11 % as 11 monthly installments of rs 1 each ;; 10 th month 1 ;; 9th month 1 .... ;; this becomes 10+9+8+7+6+5+4+3+2+1= 55 is the principal amount ;; 10 has to be paid in 11 months so 11*1=11 and 11-10=1 is the intrest then rate = 1 month =1/12 year ;; rate = 100* intrest / time * principal = 100*12/55*1= 1200/55= 240/11 %
• 9 years agoHelpfull: Yes(0) No(1)
• P=rs 10
  R=??
  T=11 months
  S.I.=1*11=rs 11
  
  11=10*R*11/100
  so R=10%
• 9 years agoHelpfull: Yes(0) No(0)