Question

A sum becomes 10/9 times itself in 1 year. find the SI

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Answer 1

for simple interest

pay back = principal 100 +interest rate time/100

given the payback = 10 / 9 × principal

10/9 100 + interest rates

interest rate =111.11

interest rate =11.11%

hence,rate of interest is = 11.11%

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