Banker's Discount Practice Test 2

Question : 3 of 40

Marks: +1, -0

What is the rate of interest when the P.W. of Rs. 1245 due 15 months hence is Rs. 1200?

Solution:

T.D. = 1245 – 1200 = Rs. 45; hence,

R = {45 ×100× 12}/ {1200 ×15 } = 3%

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