Banker's Discount Practice Test 1

Question : 6 of 40

Marks: +1, -0

An electric fan was bought for Rs. 600 and sold the same day for Rs. 688.50 at a credit of 9 months and thus gaining 2%. Find the rate of interest per annum.

Rs. $15 1 / 2 %$
$16 2 / 3 %$
17%
$17 2 / 3 %$

Validate

Solution:

S.P. =

102/ 100 × 600

= Rs. 612
T.D. = 688.50 – 612 = Rs. 76.50

\Rate={76.50×100×12}/{612×9}

=50/3=16 2/3%

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