Simple Interest Practice Test 1

Question : 7 of 40

Marks: +1, -0

If the rate of interest is 2 paise per rupee per month, then the interest on Rs. 200 in one year will be:

Solution:

Rate = 2 paise per rupee per month = 24% p.a.
Then, I =

{200 ×24× 1}/100

= Rs. 48

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