Question

Find interest rate if interest is 2 Paisa per rupee per month?

Answer 1

Answer:

2% per month

Step-by-step explanation:

1 Paisa = 1/100 of 1 rupee

2 Paisa = 2/100 of 1 rupee

Interest = 2 paisa per 1 rupee

So, at per 1 rupee, 2 paisa interest is paid

Percentage of interest = 2/100 *1 = 2/100 = 2%

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Hope it helps