Question : Which one of the following statements is true regarding the rate of interest?
Option 1: The rate of interest may be zero.
Option 2: The rate of interest increases with economic growth.
Option 3: The rate of interest can not be determined.
Option 4: The rate of interest can not be zero.
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Correct Answer: The rate of interest can not be zero.
Solution : The correct answer is The rate of interest can not be zero.
The rate of interest can never be zero due to the following factors:
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Question : At the same rate of simple interest sum of the interest of Rs. 300 for 4 years and the interest of Rs. 400 for 3 years is 120. The rate of interest is:
Question : If the period increases by 5 years, then simple interest increases by Rs. 3600 on a sum of Rs. 6000. What is the annual rate of interest?
Question : A sum was invested on simple interest at a certain rate for 2 years. If the interest rate is increased by 4%, then the interest increases by Rs. 160. What is the sum (in Rs.) invested?
Question : The growth rate of population refers to the:
Question : The simple interest received on a sum is $\frac{4}{9}$ of the sum. The number of years is equal to the annual rate of interest. What is the annual rate of interest?
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