True Discount problems
- 1. 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% Discuss
Correct Answer: 1%
Explanation:
Given that, PW =? 50000,
TD =? 2000, T = 4 yr and R = ?
According to the formula, (1)
TD = (PW x R x T) / 100
? 2000 = (50000 x R x 4) / 100
? R = (2000 x 100) / (50000 x 4) = 20/20 = 1%
- 2. 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 Discuss
Correct Answer: Rs. 240
Explanation:
P.W. = (100 x 264) / (100 + 5 x 2)
= Rs. (100 x 264) / 110
= Rs. 240.
- 3. 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 Discuss
Correct Answer: Rs. 234
Explanation:
Required answer = (100 x 272.61) / (100 + 15/2 x 273/365)
= 27261 / (100 + 33/2) = (27261 x 2)/233
= Rs. 234.
- 4. 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 Discuss
Correct Answer: Rs. 4140
Explanation:
Req. amount = [81 x (100 + 6 x 5/2) x 100] / [(6 x 5/2)2]
= (8100 x 115) / 225
= Rs. 4140
Here, S.I. - T.D. = Rs. 81
- 5. 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% Discuss
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%;
- 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% Discuss
Correct Answer: 6%
Explanation:
- 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 Discuss
Correct Answer: ?9300
Explanation:
- 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 Discuss
Correct Answer: ?650
Explanation:
- 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 Discuss
Correct Answer: 5 Year
Explanation:
- 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 Discuss
Correct Answer: ?39.75
Explanation:
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