Question: A Sum of Rs. `10` is lent to be returned in `11` monthly instalments of Rs. `1` each interest begin simple. The rate of interest is :
A
B
C
D
`9 1/11%`
B
`10%`
C
`11%`
D
`21 9/11%`
Note: Rs. `10` + S.I.on Rs. `10`for `11` months
`= Rs. 11` + S.I. on Re 1. for `110` months
`= Rs. 11` + S.I. on Re. `11` + S.I. on Re` 1`for `55` months
S.I. on Re `1` for `55` months = Re `1`.
:. Rate`= ((100 xx 12)/(1 xx 55))%`
`= 21 9/11%`