Question

If the interest of 292 in 1 day be 1 paise , then let us write by calculating , the rate of simple interest in percent per annum ​

Answer 1

Answer:

1.25% per annum

step-by-step explanation:

if the interest of ₹ 292 in 1 day be 1 paise, then let us write by calculating the rate of simple interest in percent per annum​.

let say interest rate per annum = n

simple interest = p * r * t / 100

p = rs 292

r = ?

t = 1/365 year

simple interest = 1 paisa = 1/100 rs

(292 * r *   1/365)/100 = 1/100

=> 292 * r *   1/365   = 1

=> r = 365/292

=> r = (73 * 5)/(73*4)

=> r = 5/4

=> r = 1.25 % per annum