Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:
Correct answer A. 16%
Tip: press A, B, C or D to answer, and N for the next question.
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More True Discount questions
See allIf Rs. 10 be allowed as true discount on a bill of Rs. 110 due at the end of a certain time, then the discount allowed on the same sum due at the end of double the time is:
Correct answer D. Rs. 18.33
A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer?
Correct answer A. Rs. 12,000 in cash
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A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?
Correct answer B. Rs. 9200
The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:
Correct answer C. 15%
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