Multiple Choice Questions on If the simple interest on Rs 1 for 1 month is 1 paisa then the rate percent per annum will be ........ for SSC CGL Exam Preparation

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Multiple Choice Questions

If the simple interest on Rs 1 for 1 month is 1 paisa then the rate percent per annum will be ........

Quantitative Aptitude (CGL) Simple Interest
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    If the simple interest on Rs. 1 for 1 month is 1 paisa, then the rate percent per annum will be

    10%

    Incorrect Answer

    8%

    Incorrect Answer

    12%

    Correct Answer

    6%

    Incorrect Answer
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    Explanation:

    I =PRT/100; let the annum interest rate = r%;
    1 = [100 * r * 1/12 ]/100 ; => r = 12%

    By: MIRZA SADDAM HUSSAIN
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