Select the correct answerIt is decided that a loan of Rs 10, 000 will be paid off at the rate of Rs 800 per month in 15 equal instalments. Find out the rate of return on investment.
Question
Select the correct answerIt is decided that a loan of Rs 10, 000 will be paid off at the rate of Rs 800 per month in 15 equal instalments. Find out the rate of return on investment.
Solution
The question seems to be incomplete as it does not provide enough information to calculate the rate of return on investment. The rate of return is typically calculated based on the profit or loss made on an investment over a certain period, relative to the amount of money invested. In this case, we know the amount of the loan (Rs 10,000) and the repayment schedule (Rs 800 per month for 15 months), but we do not know how much profit or loss is made from this investment. Therefore, we cannot calculate the rate of return.
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