A sum of Rs. 10 is lent to be returned in 11 monthly instalments of Rs. 1 each,

Question

A sum of Rs. 10 is lent to be returned in 11 monthly instalments of Rs. 1 each, interest being simple. The rate of interest is:

Options:

A . $$9\frac{1}{{11}}$$ %

B . 10%

C . 11%

D . $$21\frac{9}{{11}}$$ %

Answer: Option D

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