Question

a money lender lends money collecting 5paise for every rupee S per month. find the rate of interest

Answer 1

the rate of interest is 5 percent by the formula
R=(100*I)/(P*T)

Answer 2

Answer:

Hey Mate,

I think that the question is incomplete or incorrect. But as far as I understand, I try to solve it.

If a money lender collect 5 Paisa for every 1 Rupees.

( 5% of 1 rupees = 5 Paisa )

For example :

If a man invest Rs. 10,000 per month.

So, Money lender collect Rs. 500 for it.

So, I think the money collecting rate and interest will be same as 5 Percent.