SOLUTION: If the interest on per rupee is 5 paisa per every 4 months,what is the rate percent per annum?(given:100 paisa=1 rupee)

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Question 1038064: If the interest on per rupee is 5 paisa per every 4 months,what is the rate percent per annum?(given:100 paisa=1 rupee)

















Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
Per annum = per year
One year = 12 months
12/4 = 3 there are 3 4-month periods in a year
5 paisa times 3 = 15 paisa is the rate per annum = 15% per annum