The total discount on Rs.1860 due after a certain time at 5% is Rs. 60. Find the time after which it is due -

Solution (By Examveda Team)

$$\eqalign{ & {\text{Here, A}}\, = \,1860, \cr & {\text{R}}\, = \,5\% \cr & {\text{TD}}\, = 60 \cr & \therefore \,{\text{TD}}\, = \,\frac{{A \times R \times T}}{{100 + R \times T}} \cr & \Rightarrow 60 = \frac{{1860 \times 5 \times T}}{{100 + 5T}} \cr & \Rightarrow 6000 + 300T = 9300T \cr & \Rightarrow 6000 = 9300T - 300T \cr & \Rightarrow 6000 = 9000T \cr & \Rightarrow T = \frac{{6000}}{{9000}} \cr & \Rightarrow T\, = \frac{2}{3}{\text{year}} \cr & \Rightarrow T\, = \frac{2}{3} \times 12 \cr & \Rightarrow T = 8\,{\text{months}} \cr} $$