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What rate percent does a man get for his money when in discounting a bill due 10 months hence, he deducts 10% of the amount of the bill? |
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Answer» Let amount of the bill = Rs.100 Money deducted =Rs.10 Money received by the holder of the bill = Rs.100-10 = Rs.90 SI on Rs.90 for 10 months = Rs.10 Rate =[(100*10)/(90*10/12)% = 13 1/3% |
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