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    Question

    A man borrowed Rs 200 and promised to pay back in 11 equal instalments of Rs 20 each. Find the rate of simple interest per annum?

    A 21(9/11)% Correct Answer Incorrect Answer
    B 16(7/11)% Correct Answer Incorrect Answer
    C 19(5/11)% Correct Answer Incorrect Answer
    D 11(1/11)% Correct Answer Incorrect Answer

    Solution

    First month = Rs 200 Second month = Rs 180 Third month =Rs 160 Sum = n/2 {2a + ( n – 1 )d] a = 200   d = - 20 = (11/2) [2 x 200 + ( 11 – 1 ) (-20)]  = (11/2) [400 – 20]  = (11/2) x 200 = 1100   P = (200 x 11)/2  = 1,100  (P x R x T)/100 = S.I  (1100 x R x 1)/(100 x 12) = 20 R = (12 x 20)/11 = 21(9/11) %

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