The bankers discount on a sum of money for 1 \(\frac{1}{2}\) years is Rs. 5

Question

The bankers discount on a sum of money for 1 \(\frac{1}{2}\) years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

Options:

A . 10%

B . 13%

C . 12%

D . 15%

Answer: Option C

B.D. for \(\frac{3}{2}\)years = Rs. 558

B.D. for 2 years = Rs. \(\left(558\times\frac{2}{3}\times2\right)\)

= Rs.744

T.D. for 2 years = Rs. 600.

So, Sum = \(\frac{B.D.\times T.D.}{B.D.- T.D.} = Rs.\left(\frac{744\times600}{144}\right) = Rs. 3100\)

Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.

Therefore Rate = \( \left(\frac{100\times744}{3100\times2}\right)\) % = 12 %

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