Question

The true discount on $Rs.2562$ due $4$ months hence is $Rs.122$. The rate percent is:

• A. $12$%
• B. $13\frac{1}{3}$%
• C. $15$%
• D. $14$%

Answer 1

The correct option is C $15$%

We know,

$R=\frac{S.I.\times 100}{P\times T}$ ............. (S.I. -- simple interest)

$P=Rs.(2562-122)=Rs.2440$.

$\therefore S.I.$ on $Rs.2440$ for $4$ months is $Rs.122$.

$R=\frac{4}{12}$

$\therefore Rate=\left[\frac{100\times 122}{2440\times \frac{1}{3}}\right]$% $=15$%.