If the simple interest on a certain sum of money is 1100th of the sum and the rate per cent equals to 9 times the number of years, then the rate of interest per annum is
1%
3%
2%
4%
A
1%
B
2%
C
3%
D
4%
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Solution
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The correct option is C3% SI=P/100;r=9t⟹t=r/9
SI=P×r×t100
⟹(P/100)=P×r×(r/9)100
⟹r×(r/9)=1⟹r=3%
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