Question

if the simple interest for 100 rupees for one month is one rupee what is the interest for 100 rupees for one year and what is the rate of interest​

Answer 1

Rate of interest = 0.03%

• The unitary technique involves first determining the value of a single unit, followed by the value of the necessary number of units. Always write the items that need to be computed on the right side and the things that are known on the left side to simplify things.
• In the unitary method, the value of a unit quantity is determined before the values of other units are determined. Direct variation and inverse variation are the two different sorts of variations it has.
• When there is a direct variation, an increase or decrease in one quantity will result in an equivalent rise or fall in the other. For instance, a rise in the quantity of commodities will result in higher costs.

Here, according to the given information, it is given that,

The simple interest for 100 rupees for one month is one rupee.

Then, simple interest for 100 rupees for 1 day is $\frac{1}{30}$ ruppees.

Then, simple interest for 100 rupees for 1 year is $\frac{1}{30}.365 =12.17$ rupees.

Now, rate of interest = $\frac{12.17}{365.100} .100=$ 0.03%

Hence, rate of interest = 0.03%

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Answer 2

Answer: Interest for 100 rupees for one year is Rs. 12  and rate of interest​ is 12% p.a.

Step-by-step explanation:

Simple Interest= $\frac{P\times R\times T}{100}$

Where, P = Principal

R = Rate of Interest

T = Time Period

putting given values in the above formula

we get,

$1=\frac{100\times R\times\frac{1}{12} }{100}$

$R=12\%$

Interest for 100 rupees for one year at the rate of 12% is

$SI=\frac{100\times 12\times 1}{100}$

$SI=Rs.\ 12$

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