The real discount on a Rs. 2562 payment due in four months is Rs. 122. The percentage rate is:
A. 12%
B. 13 1/3%
C. 15%
D. 14%
Answer:C
The real discount on a Rs. 2562 payment due in four months is Rs. 122. The percentage rate is:
A. 12% B. 13 1/3% C. 15% D. 14%
Explanation: 2562 - 122) = Rs. 2440. P.W. = Rs. (2562 - 122) = Rs. 2440.S.I. for 4 months on Rs. 2440 is Rs. 122.15 percent rate = 100 × 122 / 2440 x ⅓.