Banker's Discount Practice Test 2

Question : 30 of 40

Marks: +1, -0

The true discount on a certain sum of money due 2 years hence is Rs 250 and the simple interest on the same sum for the same time and at the same rate is Rs 300. Find the rate per cent per annum.

25%
35%
10%
15%
None of these

Validate

Solution:

Rate

=100/T[{SI}/{TD}-1]

=100/2[300/250-1]

=100/2×50/250=10%

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