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Solution - The Present Worth of the Sum of Rs. 5,830, Due 9 Months Hence, is Rs. 5,500. Find the Rate of Interest. - Commission, Brokerage and Discount

Question

The present worth of the sum of Rs. 5,830, due 9 months hence, is Rs. 5,500. Find the rate of interest.

Solution

Sum due = Rs. 5,830, due 9 months

Present Worth (P.W.) =Rs. 5,500

True Discount (T.D.) = Rs.(5830-5500)=330

`330=5500/100xx9/12xx x`

`x=330/55xx12/9`

x=8%

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APPEARS IN

2014-2015 (March)
Question 4.7 | 2 marks
Solution for question: The Present Worth of the Sum of Rs. 5,830, Due 9 Months Hence, is Rs. 5,500. Find the Rate of Interest. concept: Commission, Brokerage and Discount. For the courses HSC Commerce, HSC Commerce (Marketing and Salesmanship)
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