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The Banker’S Discount on a Sum of Money for 18 Months is Rs. 600 and the True Discount on the Same Sum for 3 Years is Rs. 750/­. the Rate Percentage Is: - Mathematics

MCQ

Choose the most appropriate option

The Banker’s discount on a sum of money for 18 months is Rs. 600 and the true discount on the same sum for 3 years are Rs. 750/­. The rate percentage is:

Options

  • 12%

  • 20%

  • 10%

  • 15%

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Solution

20%

Explanation:

Here,

BD = Banker's discount and TD = True discount.

∴ According to question,

BD for `(3/2)`years = 600

∴ BD for 3 years = 1200

Now, BD = 1200, TD = 750 and Time = 3 years

∴ Sum`=((1200xx750)/450)=2000`

∴ ₹ 1200 is S.I. on ₹ 2000 for 3 years

So, rate`=((100xx1200)/(2000xx3))%=20%`

Concept: Percentage, Discount and Partnership (Entrance Exam)
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