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Question
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%
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%`
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