The banker's discount on a sum of money for 1½ years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

Question

Accepted Answer

B.D. for 3⁄2 years = Rs. 558. B.D. for 2 years = Rs.

∴ Sum =	B.D. x T.D.	= Rs.	❨	744 x 600	❩	= Rs. 3100.
	B.D. - T.D			144

∴ Rate =	❨	100 x 744	❩%	= 12%
		3100 x 2

Discussion & Comments