Elitmus Exam Numerical Ability Simple & Compound Interest

the total discount on rs 1860 due after a certain time at 5% is rs 60.find the time after which it is due

Read Solution (Total 1)

Here,sum=1860
True discount=60
Therefore,present worth=sum -true discount
PW=(1860-60)
=1800
And we know,
PW=(td x 100)/(R x T)
Therefore,
R=(2/3)
=(2/3) x 12= 8 months.
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