Banker's Discount Practice Test 2

Question : 17 of 40

Marks: +1, -0

What is the rate of interest when the P.W. of Rs. 8175 due in 5 months Rs. 8000?

Solution:

T.D. = Rs. 8175 – Rs. 8000 = Rs. 175

R={175×10×12}/{8000×5}=5 1/4%

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