Banker's Discount Practice Test 2

Question : 22 of 40

Marks: +1, -0

The true discount on a certain sum of money due

2 2/ 3

years hence is Rs 150 and the simple interest on the same sum for the same time and at the same rate is Rs 200. The interest rate per annum is:

Solution:

TD = Rs 150 and SI = Rs 200
Sum due

={SI×TD}/{SI-TD}

={200×150}/{200-150}=600

Rate

=({100×200}/{600×8/3})%

=200/16%=12 1/2%

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