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True Discount
If the true discount on Rs. 161 due 2 1/ years hence be Rs. 21. At what rate per cent is the interest calculated?
6%
4%
8%
12%
Correct Answer:
6%
Explanation:
Required rate percent = (100 x 21) / {(161 - 21) x 2
1
/
2
} = 6%
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