Q:
The true discount on Rs.2562 due 4 months hence is Rs.122.The rate % is?
Answer & Explanation
Answer: A) 12%
Explanation: P.W = Rs.( 2562 - 122) = Rs.2440
S.I on Rs.2440 for 4 months is Rs.122
Rate = (100 x 122)/(2440 x [1/3]) % = 15%
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