A man borrows Rs.360 If he pays it back in 12 monthly installments of Rs.31.50, what is his interest rate?
Correct answer: D
Explanation
Instead of paying monthly 360/12 = 30Rs, the man pays 31.50Rs. Therefore, the interest rate is 1.5/30 = 0.5/10 = 5/100 = 5%.
Answer D
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Source: Algebra word problems from the AQuA-RAT dataset (Ling et al., 2017), published by Google DeepMind under the Apache License 2.0.
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AQuA-RAT items are crowdsourced algebra problems, not ACT questions. They carry five answer choices in the pre-2025 ACT Mathematics style and no ACT reporting category. Useful for drilling Preparing for Higher Math content; not a substitute for a real form.