Question

A moneylender lends money collecting 5 paisa for every rupee per month.find the rate of interest.

Answer 1

on 1 rs interest is 5 paise i.e.,0.05rs in 1 month
so, rate of interest = interest/ principle
so, rate %= 0.05/1=5 %
Thanks.

Answer 2

Answer:5%

Step-by-step explanation:

on 1 rs interest is 5 paise i.e.,0.05rs in 1 month

so, rate of interest = interest/ principle

so, rate %= 0.05/1=5 %

Thanks.