Question: Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:
[A].
15%
[A].
| 16 | 2 | % |
| 3 |
[B].
| 14 | 1 | % |
| 2 |
[C].
| 13 | 1 | % |
| 3 |
[D].
Answer: Option A
Explanation:
| S.P. = 102% of Rs. 600 = | 102 | x 600 | = Rs. 612. | ||
| 100 |
Now, P.W. = Rs. 612 and sum = Rs. 688.50.
T.D. = Rs. (688.50 – 612) = Rs. 76.50.
Thus, S.I. on Rs. 612 for 9 months is Rs. 76.50.
| Rate = | 100 x 76.50 | % | = 16% | |
|