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The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:

12%
13 1 % 3
15%
14%

Correct Answer: 15%

Explanation:

P.W. = Rs. (2562 - 122) = Rs. 2440.

∴ S.I. on Rs. 2440 for 4 months is Rs. 122.

∴ Rate =

[

100 x 122

]%

= 15%.

2440 x	1
	3

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