The banker's discount on a sum of money for 1 1/2years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

The banker's discount on a sum of money for 1 1-div-1by2 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

[A].	10%
[B].	13%
[C].	12%
[D].	15%

Answer: Option C

Explanation:

B.D. for

years

= Rs. 558.

B.D. for 2 years

= Rs.		558 x	2	x 2
			3

= Rs. 744

T.D. for 2 years = Rs. 600.

Sum =	B.D. x T.D.	= Rs.		744 x 600		= Rs. 3100.
	B.D. - T.D			144

Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.

Rate =		100 x 744	%	= 12%
		3100 x 2

Aptitude :: Banker's Discount : More Exercises

Banker's Discount - General Questions

The banker's discount on a sum of money for 1 1/2years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

Aptitude :: Banker's Discount : More Exercises

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