Math, asked by Ketanjiwane57701, 9 months ago

Monthly interest of 100 rupees is 1.5 rupees the what is the percentage of interest

Answers

Answered by Anonymous

Answer:

1 rupee interest is calculated on the principal amount per month. For example, if a person borrows 100 rupees at 1 rupee interest he has to pay 1 rupee interest every month. So he has to pay 12 rupees in 1 year. Therefore, 1 rupee interest on 100 rupees means the percentage of interest is 12%.

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