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Introduction to Simple Interest

The percentag...

Question

The percentage of the principal charged by the lender is called as the rate of the interest.

A

True

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B

False

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Solution

The correct option is A True

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Q. When compared to formal lenders, most informal lenders charge a rate of interest.

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When the interest you get after every year is different for a given principal sum and rate of interest, it is called-

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