The true discount on Rs.3542 dur 6 months hence is Rs. 142. Find the rate percent of interest.

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07 Dec 2016 True discount

The true discount on Rs.3542 dur 6 months hence is Rs. 142. Find the rate percent of interest.

OPtion

1) 7%
2) 5%
3) 8.35%
4) 5.65%
5) 9%
6) 9.72%
7) 8%
8) 11%
9) 12.68%
10)3%

Solution

Reason-
PW = Rs(3542-142)= Rs3400
SI on Rs.3400 for 6 months is Rs 142
Hence rate= (100*142*2)/(3400*) = 8.35%

Option 3)

Correct Option: 3 Best Solution (7)