Ayesha borrows some money at a rate of simple interest of 12% per year.This means that on every ₹ borrowed, ₹12 is the interest she has to pay in a year.

Question

Ayesha borrows some money at a rate of simple interest of 12% per year.This means that on every ₹ borrowed, ₹12 is the interest she has to pay in a year.
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Solution 1

The statement is incorrect. A 12% simple interest rate means that for every ₹100 borrowed, Ayesha would have to pay ₹12 as interest in a year, not for every ₹1 borrowed.

Here's how it works:

  1. The principal amount (P) is the original amount of money that Ayesha borrows.

  2. The rate of interest Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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