Banker's Discount Practice Test 1

Question : 5 of 40

Marks: +1, -0

The true discount on Rs 300 due 2 years hence, is Rs 50. Find the rate per cent.

Solution:

Rate

={100×TD}/{(A-TD)×T}

={1000×503000}/{(300-50)2}

=5000/500=10%

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