The interest on Rs. 750 for 2 years is the same as the true discount on Rs. 960

Question

The interest on Rs. 750 for 2 years is the same as the true discount on Rs. 960 due 2 years hence. If the rate of interest is the same in both cases, it is:

Options:

A . 12%

B . 14%

C . 15%

D . \(16\frac{2}{3}\) %

Answer: Option B

S.I. on Rs. 750 = T.D. on Rs. 960.

This means P.W. of Rs. 960 due 2 years hence is Rs. 750.

So, T.D. = Rs. (960 - 750) = Rs. 210.

Thus, S.I. on R.s 750 for 2 years is Rs. 210.

So, Rate = \(\left(\frac{100\times210}{750\times2}\right)\) % = 14%

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