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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:

12%
14%
15%
16 2 % 3

Correct Answer: 14%

Explanation:

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

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

∴ T.D. = Rs. (960 - 750) = Rs. 210.

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

∴ Rate =	❨	100 x 210	❩%	= 14%
		750 x 2

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