Banker's Discount Practice Test 3

Question : 6 of 12

Marks: +1, -0

If the simple interest on Rs 500 for 2 years is equal to the true discount on Rs 600 for rate, find the rate per cent per annum.

Solution:

The required rate

=100/{P×T}[A-P]

=100/{200×2}[600-500]

=10000/1000=10%

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