Question

Find rate

a)the interest of Re.1 of 1 month is 1 paisa.

b)the interest of re.1 of 1 month is 2 paisa​

Answer 1

Explanation:

A.) Correct Answer: 12%

Given , Principle = ₹ 1 , Time = 1 month = ( 1 / 12 ) year and SI = 1 paisa = ₹ ( 1 / 100 )

As we know that ,

Rate =SI × 100Principal × Time

Rate =(1 ÷ 100) × 100= 12% p.a.1 × (1 ÷ 12)

B.) Correct Answer:

Answer 2

See below ↓

Explanation:

a) I = Prt

• r = I/Pt
• r = 0.01/1x(1/12)
• r = 0.12
• r = 12%

b)

• r = I/Pt
• r = 0.02/1x(1/12)
• r = 0.24
• r = 24%