The true discount on Rs. 340 due 5 years hence is Rs. 40. Find the rate percent?

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Question
The true discount on Rs. 340 due 5 years hence is Rs. 40. Find the rate percent?
Options
A. 3%
B. 22/3%
C. 31/3%
D. 32/3%

Correct Answer

22/3%

Explanation

T.D. = [Amount x R x T] / [100 + (R x T)]
? 40 = [340 x R x 5] / [100 + 5R]
? 40 = (1700 x R) / (100 + 5R)
? R = 2²/₃%;

True Discount problems

Search Results

1.
The true discount on a certain sum of money due after 2 ¹/ ₂ years at 6% per annum is less than the simple interest on the same sum for the same time by Rs. 81. Find the sum?
Options
A. Rs. 4140
B. Rs. 4240
C. Rs. 4150
D. Rs. 4250

2.
What is the present worth of Rs. 272.61 due in 2 years 73 days at 7 ¹/ ₂ percent?
Options
A. Rs. 334
B. Rs. 254
C. Rs. 234
D. None of these

3.
Find the present worth of Rs. 264 due in 2 years reckoning simple interest at 5 percent per annum?
Options
A. Rs. 240
B. Rs. 360
C. Rs. 540
D. Rs. 260

4.
If the true discount for a sum of ? 50000 for a period of 4 yr at a certain rate of interest per annum is ? 2000, find the rate of interest.
Options
A. 1%
B. 1.5%
C. 2%
D. 5%

5.
What will be the true discount for the present worth of ? 600 for a period of 4 yr at 4% per annum rate of interest?
Options
A. ? 100
B. ? 32
C. ? 86
D. ? 96

6.
If the true discount on $ 161 is due for 2 years and 6 months is $ 21, then find the rate of interest.
Options
A. 2 1 % 2
B. 4 1 % 2
C. 5%
D. 6%

7.
The True Discount on a certain sum of money due in 2 years is ?1800 and the simple interest on the same amount is ?2232. Find the sum.
Options
A. ?9300
B. ?9350
C. ?9450
D. ?9400

8.
The difference between the simple interest and the true discount on a certain sum of money for 2 years at 15 % per annum at simple interest is ?45. Find the sum.
Options
A. ?700
B. ?650
C. ?675
D. ?625

9.
If the simple interest on ?2000 at 5 % p.a. is equal to the true discount on ?2500 for the same time and at the same rate, the time is :
Options
A. 4 1 Years 2
B. 5 Year
C. 7 1 Years 2
D. 2 1 Years 2

10.
If ?21 is the true discount on ?371 for a certain time, what is the true discount on the same amount for double that time, the rate being the same in both the cases?
Options
A. ?39.00
B. ?35.75
C. ?40.00
D. ?39.75

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