The true discount on Rs. 2366 due 4 months hence is Rs. 91. The rate percent is?

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25 Sep 2020 True Discount

The true discount on Rs. 2366 due 4 months hence is Rs. 91. The rate percent is?

OPtion

1) 25
2) 19
3) 13
4) 15
5) 18
6) 30
7) 12
8) 21
9) 24
10) None of these

Solution

Present Worth = 2366-91 =Rs. 2275

Rate = [100 x 91] / [2275 x (1/3)] =12%

Correct Option: 7 Best Solution (3)