43. The banker’s discount and the true discount on a sum of money due 8 months hence are Rs. 120 and Rs. 110 respectively. Find the sum and the rate percent.
A. 13 7/11%
B. 13 7/15%
C. 13 8/11%
D. 167/11%
Answer:
Sum = [B.D. * T.D. / B.D. - T.D.] = Rs. [120 * 110 / 120 - 110] = Rs. 1320.
Since B.D. is S.I. on sum due, so S.I. on Rs. 1320 for 8 months is Rs. 120.
∴ Rate = [100 * 120 / (1320 * 2/3)]% = 13 7/11%
