If the interest on money be 2/73 paise per rupee per day,what is the rate percent per annum
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Answer:
It would be 10 per cent per year (annum)
Step-by-step explanation:
Interest per day = 2/73 paise per rupee per day
As 1 Rupee = 100 paise,
2/73 paise per rupee per day = 2/73 per cent per day
As there are 365 days in a year
2/73 per cent per day = 365*2/73 per cent per year
= 5*2 per cent per year (365=5*73)
= 10 per cent per year
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