If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?
A. 8 months
B. 11 months
C. 10 months
D. 9 months
Answer: Option D
Solution(By Examveda Team)
F = Rs. 498TD = Rs. 18
PW = F - TD = 498 - 18 = Rs. 480
R = 5%
$$\eqalign{ & TD = \frac{{PW \times TR}}{{100}} \cr & \Rightarrow 18 = \frac{{480 \times T \times 5}}{{100}} \cr & \Rightarrow 18 = 24 \times T{\text{ }} \cr & \Rightarrow {\text{ }}T{\text{ }} = \frac{{18}}{{24}} = \frac{3}{4}{\text{ years}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{12 \times 3}}{4}{\text{ months}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 9 months}} \cr} $$
Related Questions on Bankers Discount
The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:
A. Rs. 400
B. Rs. 360
C. Rs. 480
D. Rs. 320
A. 3 months
B. 4 months
C. 6 months
D. 8 months
A. Rs. 480
B. Rs. 520
C. Rs. 600
D. Rs. 960
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