A) 8%
B) 10%
C) 11%
D) 12%
Correct Answer: B
Solution :
Let the principle \[=Rs.\,P\] and Interest \[=r%\] According to question, Interest for a year is Rs. 220 and interest for a consecutive year is Rs. 242. \[\therefore \] Interest on Rs. 220 is\[Rs.(242-220)\] i.e., Rs. 22. \[\therefore \] \[22=\frac{220\times 1\times r}{100}\] \[\Rightarrow \] \[r=\frac{2200}{220}=10%\]You need to login to perform this action.
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