26. The banker’s gain on a certain sum due 1½ years hence is 3/25 of the banker’s discount. The rate percent is :
A. 3 1/3 % B. 6 1/6 % C. 9 1/9 % D. 9 1/6 %
Answer: C.
Explanation:
Let B.D. = Re 1. Then, B.G. = Re 3/25.
∴ T.D. = (B.D. - B.G.) = Re[1 - 3/25] = Re 22/25.
Sum = [1 * 22/25 / 1 - 22/25] = Rs. 22/3.
S.I. on Rs. 22/3 for 1 ½ years is Re 1.
∴ Rate = [100 * 1 / 22/3 * 3/2] % = 9 9/1%.
