-
If the simple interest on Re. 1 for 1 month is 1 paisa, then the rate percent per annum will be
-
- 10%
- 8%
- 12%
- 6%
- 10%
Correct Option: C
Given , Principle = ₹ 1 , Time = 1 month = ( 1 / 12 ) year and SI = 1 paisa = ₹ ( 1 / 100 )
As we know that ,
| Rate = | |
| Principal × Time |
| Rate = | = 12% p.a. | |
| 1 × (1 ÷ 12) |
