A money lender claims to lend money at the rate of 10% per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually?

A money lender claims to lend money at the rate of 10% per annum simpl

1.	A money lender claims to lend money at the rate of 10% per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually?
A.	10%
B.	<table><tr><td rowspan="2">10</td><td style="border-bottom:1px solid #000000;vertical-align:bottom;padding-bottom:2px;"><center>1</center></td><td rowspan="2">%</td></tr><tr><td style="text-align: center;">9</td></tr></table>
C.	11%
D.	<table><tr><td rowspan="2">11</td><td style="border-bottom:1px solid #000000;vertical-align:bottom;padding-bottom:2px;"><center>1</center></td><td rowspan="2">%</td></tr><tr><td style="text-align: center;">9</td></tr></table>
Answer» E.

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A money lender claims to lend money at the rate of 10% per annum simple interest. However, he takes the interest in advance when he lends a sum for one year. At what interest rate does he lend the money actually?

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