41. What rate percent does a man get for his money when is discounting a bill due 10 months hence, he deducts 10% of the amount of the bill
A.13 B.13 1/3
C.13 5/2 D.None
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.
∴ S.I. on Rs. 90 for 10 months = Rs. 10.
∴ Rate = [100 * 10 / (90 * 10/12)] % = 13⅓%.
