One Rupee Interest means How much Percentage?
By BYJU'S Exam Prep
Updated on: November 14th, 2023
One Rupee Interest means 12%. On the principal sum, interest is computed at the rate of one rupee per month. An individual who borrows Rs 100 at an interest rate of Rs 1 will, for example, be required to pay Rs 1 in interest each month. He must therefore pay 12 rupees every year. In mathematics, a value or ratio that can be expressed as a fraction of 100 is known as a percentage.
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One Rupee Interest in Percentage
If we need to calculate a percentage of a number, we should divide it by its entirety and then multiply it by 100. The proportion, therefore, refers to a component per hundred. Per 100 is what the word percent means.
By dividing the value by the total value and multiplying the result by 100, the percentage can be calculated. The percentage is calculated using the formula (value/total value)x100%. A percentage in mathematics is a number or ratio that is expressed as a fraction of 100. The percent sign, “%,” is frequently used to indicate it.
How can the percentage of a number be calculated?
- We must use a different formula, such as P% of Number = X, where X represents the required percentage, to determine the percentage of a number.
- If we don’t use the percent sign, we must write the equation above as P/100 x Number = X.
- Hence, Re 1 interest Rs 100 indicates that the interest rate is 12%.
Simple Interest in Mathematics
The simplest way to calculate interest is as a percentage of the principal. Simple interest is calculated by multiplying the principal by the time, interest rate, and time period. “Simple Interest = Principal x Interest Rate x Time” is the written formula. The simplest method for calculating interest is using this equation.
Summary:
One Rupee Interest means How much Percentage?
12% interest is equal to one rupee. Interest is calculated at a monthly rate of one rupee on the principal amount. For instance, if someone borrows Rs 100 at a Rs 1 interest rate, they will need to pay Rs 1 in interest each month. Therefore, he is required to pay 12 rupees annually. A percentage in mathematics is a number or ratio that can be expressed as a fraction of 100.
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