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The banker's discount and the true discount on a sum of money due 8 months hence are Rs. 120 and Rs. 110 respectively. Find the sum and the rate percent. |
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Answer» Sum =[( B.D.*T.D.)/(B.D.-T.D.)] = Rs.[(120x110)/(120-110)] = Rs. 1320. Since B.D. is S.I. on sum due, so S.I. on Rs. 1320 for 8 months is Rs. 120. Rate =[(100 x 120)/( 1320 x 2/3)% = 13 7/11% |
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