Find the true discount reckoning 3% p.a. simple interest on ₹1802 due in 2 years’ time.

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10 Nov 2021 Discount

Find the true discount reckoning 3% p.a. simple interest on ₹1802 due in 2 years’ time.

OPtion

1. 104
2. 108
3. 98
4. 106
5. 110
6. 120
7. 102
8. 100
9. 115
10. None of the above

Solution

T.D. = (A X R X T)/(100 + R X T)
= (1802 X 3 X 2)/(100 + 3 X 2)
= ₹102.

Correct Option: 7 Best Solution (2)