A money lender claims to lend money at the rate of 10%per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually ?

A money lender claims to lend money at the rate of 10%per annum simple

1.	A money lender claims to lend money at the rate of 10%per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually ?
A.	0%
B.	$10\frac{1}{9}$$ %
C.	1%
D.	$11\frac{1}{9}$$ %
Answer» E.

Discussion

No Comment Found

Related MCQs

Rs. 260200 is divided between Ram and Shyam so that the amount that Ram receives in 3 years is the same as that Shyam receives in 6 years. If the interest is compounded annually at the rate of 4%per annum then Ram's share is=?
If a sum of money becomes Rs. 4000in 2 years and Rs. 5500 in 4 years 6 months at the same rate of simple interest per annum. Then the rate of simple interest is=?
In simple interest rate per annum a certain sum amounts to Rs. 5182 in 2 years and Rs. 5832 in 3 years. The principal in rupees is=?
The sum invested in scheme B is thrice the sum invested in scheme A. The investment in scheme A is made for 4 years at 8%p.a. simple interest and in scheme B for 2 years at 13%p.a. simple interest. The total interest earned from both the schemes is Rs. 1320. How much amount was invested in scheme A?
The interest earned on Rs. 15000 in 3 years at simple interest is Rs. 5400. Find the rate of interest per annum.
A sum becomes its double in 10 years. Find the annual rate of simple interest.
A sum of Rs. 3000 yields an interest of Rs. 1080 at 12%per annum simple interest in how many years ?
Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10 : 3 at 6%simple interest per annum ?
If a sum of money double itself in 8 years, then the interest rate in percentage is ?
The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is Rs. 840. Rate of interest for which the same amount of interest can be received on the same sum after 5 years is=?

A money lender claims to lend money at the rate of 10%per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually ?

Discussion

No Comment Found

Related MCQs

Reply to Comment