Question:
The banker’s discount on a sum of money for 1 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:
[A].10%
13%
12%
15%
The banker’s discount on a sum of money for 1 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:
[A].
[B].
[C].
[D].
Answer: Option C
Explanation:
| B.D. for years | = Rs. 558. | |||||||
| B.D. for 2 years |
|
|||||||
| = Rs. 744 |
T.D. for 2 years = Rs. 600.
| Sum = | B.D. x T.D. | = Rs. | 744 x 600 | = Rs. 3100. | ||
| B.D. – T.D | 144 |
Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.
| Rate = | 100 x 744 | % | = 12% | |
| 3100 x 2 |