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If the simple interest on Rs. 1 for 1
month is 1 paisa, then the rate
percent per annum will be?
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If the simple interest on Rs. 1 for 1 month is 1 paisa, then the rate ...



Calculation of Rate Percent per Annum:

1. Understand the Concept:
- Simple interest is calculated as the product of the principal amount, rate percent, and time period.
- Given that the simple interest on Rs. 1 for 1 month is 1 paisa, which is 1/100th of a rupee.
2. Formulas:
- Simple Interest (SI) = (Principal * Rate * Time) / 100
- Given SI = Rs. 0.01, Principal (P) = Rs. 1, Time (T) = 1 month = 1/12 year.
3. Calculation:
- 0.01 = (1 * R * 1/12) / 100
- R = (0.01 * 100) / (1/12)
- R = 1.2
4. Interpretation:
- The rate percent per annum is 1.2%.

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If the simple interest on Rs. 1 for 1 month is 1 paisa, then the rate percent per annum will be?
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