Arithmeticmedium · Past Paper
If the simple interest on Rs 1 for 1 month is 1 paisa, what is the rate percent per annum?
A1%
B10%
C12%
D15%
✓ Correct Answer: C — 12%
I = 0.01, P = 1, T = 1/12. R = (0.01*100)/(1 * 1/12) = 1 * 12 = 12%.
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