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If rate of interest and time on a certain bill are numerically equal and true discount is 81 times of banker's gain, find the rate of interest?

29/13 %
12/9 %
17/9 %
11/9 %

Correct Answer: 11/9 %

Explanation:

Given that, n = 81
According to the formula.
R = 10√1/n%
= 10√1/81%
= 10 x (1/9) % = 1¹/_{9_%}

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