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- Question
- A man purchased a cow for Rs. 300 and sold it the same day for Rs. 360, allowing the buyer at the credit of 2 years. If the rate of interest be 7 1/ 2% per annum, then the man has a gain of?
Options- A. 41/2%
- B. 53/7%
- C. 6%
- D. 5%
- Correct Answer
- 5%
ExplanationP.W. of Rs. 360 due 2 years hence at 71/7% per annum
= Rs. { {100 x 360} / {100 + (50/7 x 2)}}
= Rs. { (100 x 360 x 7) / 800} = Rs. 315
? S.P. = Rs. 315
Hence, gain % = (15 x 100) / 300 = 5% - 1. A owes B, Rs. 1120 payable 2 years hence and B owes A, Rs. 1081.50 payable 6 months hence. If they decide to settle their accounts forthwith by payment of ready money and the rate of interest be 6% per annum, then who should pay and how much?
Options- A. A Rs. 50
- B. B Rs. 50
- C. A Rs. 70
- D. B Rs. 70 Discuss
- 2. Rs. 20 is the true discount on Rs. 260 due after a certain time. What will be the true discount on the same sum due after half of the former time, the rate of interest being the same?
Options- A. Rs. 10
- B. Rs. 10.40
- C. Rs. 15.20
- D. Rs. 13 Discuss
- 3. A has to pay Rs. 220 to B after 1 year. B asks A to pay Rs. 110 in cash and defer the payment of Rs. 110 for 2 years. A agrees to it. Counting the rate of interest at 10% per annum in this new mode of payment?
Options- A. There is no gain or loss to ant one
- B. A gains Rs. 7.34
- C. A loses Rs. 7.34
- D. A loses Rs. 1.66 Discuss
- 4. I want to sell my scooter. There are two offers, One at cash payment of Rs. 8100 and another at a credit of Rs. 8250 to be paid after 6 months. If money being worth 6 1/ 4% per annum simple interest, which is the better offer?
Options- A. Rs. 8100 in cash
- B. Rs. 8250 due 6 months hence
- C. Both are equally good
- D. Ca't be said Discuss
- 5. A trader owes a merchant Rs. 901 due 1 year's hence. However, the trader wants to settle the account after 3 months. How much cash should he pay, If rate of interest is 8% per annum?
Options- A. Rs. 870
- B. Rs. 850
- C. Rs. 828.92
- D. Rs. 846.94 Discuss
- 6. What sum will discharge a debt of Rs. 5300 due a year and a half hence at 4% per annum?
Options- A. Rs. 5000
- B. Rs. 4500
- C. Rs. 4200
- D. Rs. 5250 Discuss
- 7. The true discount on Rs. 2575 due 4 months hence is Rs. 75. The rate percent is?
Options- A. 6%
- B. 8%
- C. 9%
- D. 5% Discuss
- 8. Find the present worth (PW) and the true discount reckoning 6% per annum simple interest of Rs. 176 due in 20 months time?
Options- A. Rs. 160, Rs. 16
- B. Rs. 130, Rs. 46
- C. Rs. 150, Rs. 26
- D. None of these Discuss
- 9. The true discount on Rs. 1860 due after a certain time at 5% is Rs. 60. The time after which it is due is?
Options- A. 6 months
- B. 8 months
- C. 9 months
- D. 10 months Discuss
- 10. The true discount on a bill a due 8 months hence at 12% per annum is Rs. 240. Find the amount of the bill and its present worth?
Options- A. Rs. 3000, Rs . 3240
- B. Rs. 2000, Rs . 2240
- C. Rs. 2100, Rs . 2340
- D. None of these Discuss
True Discount problems
Search Results
Correct Answer: B Rs. 50
Explanation:
P.W. of Rs. 1120 due 2 years hence at 6%
= Rs. [{100 x 1120} / {100 + (6 x 2)}] = Rs. 1000
P.W. of Rs. 1081.50 due 6 months hence at 6%
= Rs. [ {100 x 1081.50} / {100 + (6 x 1/2)} ]
= Rs [ (100 x 1081.50) / 103 ] = Rs. 1050
So, A owes B, Rs. 1000 cash and B owes A Rs. 1050 cash.
? B must pay Rs. 50 to A.
Correct Answer: Rs. 10.40
Explanation:
S.I. on Rs. 240 for a given time = Rs. 20
S.I. on Rs. 240 for half the time = Rs. 10
? Rs. 10 is T.D. on Rs. 250
So, T.D. on Rs. 260 = Rs. (10 / 250) x 260 = Rs. 10.40
Correct Answer: A loses Rs. 1.66
Explanation:
A has to pay the P.W. of Rs. 220 due 1 year hence, which is
= Rs. [ (100 x 220) / {100 + (10 x 1)} ] = Rs. 200
A, actually pays = Rs. [110 + P.W. of Rs. 110 due 2 years hence]
= Rs. [ 110 + (100 x 110) / {100 + (10 x 2)} ]
= Rs. [110 + 91.66] = Rs. [201.66]
? A loses = Rs. [200 - 201.66] = Rs. 1.66
Correct Answer: Rs. 8100 in cash
Explanation:
P.W. of Rs. 8285 due 6 months hence = Rs. { (100 x 8250) / {100 + (25 / 4 x 1 / 2)} } = Rs. 8000
? Rs. 8100 in cash is a better offer.
Correct Answer: Rs. 850
Explanation:
P.W. of Rs. 901 due 9 months hence at 8%
= Rs { (100 x 901) / (100 + (8 x 3 / 4))} = Rs. (100 x 901) / 106
= Rs. 850
Correct Answer: Rs. 5000
Explanation:
Required sum = (100 x 5300) / {(100 + (3/2) x 4)}
= (100 x 5300) / 106 = Rs. 5000
Correct Answer: 9%
Explanation:
P.W. = Rs. (2575 - 75) = Rs. 2500
? Rate = (100 x 75 x 3) / (2500 x 1)% = 9%
Correct Answer: Rs. 160, Rs. 16
Explanation:
P.W. = (100 x 176) / (100 + (6 x 20)/12) = Rs. 160
T.D. = Amount - present worth
= Rs. 176 - Rs. 160 = Rs. 16
Correct Answer: 8 months
Explanation:
P.W. = (Sum due) - (T.D.)
= Rs. (1860 - 60) = Rs. 1800
Thus, Rs. 60 is S.I. on Rs. 1800 at 5% per annum
? Time = (100 x 60) / (1800 x 5) years
= 2 / 3 years = 8 months
Correct Answer: Rs. 3000, Rs . 3240
Explanation:
P.W. = (100 x T.D.) / (R x T) = (100 x 240) / (12 x 8/12) = Rs. 3000
? P.W. is Rs. 3000
? A = Amount of bill = P.W. + T.D. = 3000 + 240 = 3240
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