DIRECTIONS : Problems based on discounts .
| 1. | The true discount on a certain sum of money due 3 years hence is Rs.250 and the simple interest on the same sum for the time and at the same rate is Rs.375. Find the sum ? |
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| A. Rs. 500 | B. Rs.750 |
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| C. Rs. 1000 | D. Rs. 1250 |
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| Solution |
| T.D | = Rs.250 |
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| S.I | = Rs.375 |
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| Sum due | = S.I×T.D/(S.I)-(T.D) |
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| = Rs.(375×250/375-250 ) |
| = Rs.750. |
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| 2. | A man buys a watch for Rs.1950 in cash and sells it for Rs.2200 at a credit of 1 year. If the rate of interests is 10% per annum, the man |
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| A. gain Rs.55 | B. gain Rs.30 |
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| C. loses Rs.30 | D. gains Rs.50 |
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| Solution |
| S.P | =P.W. of Rs.2200 due 1 year |
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| = Rs.[2200×100/100+(10×1)] |
| = Rs.2000. |
| Gain | =Rs.(2000 - 1950) |
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| = Rs.50. |
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| 3. | 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? |
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| A. Rs. 10 | B. Rs. 10.40 |
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| C. Rs. 15.20 | D. Rs. 13 |
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| Solution |
| S.I.on Rs.(260-20) for a given time | = Rs. 20 |
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| S.I. on Rs. 240 for half the time | = Rs. 10. |
| T.D. on Rs. 250 | = Rs. 10. |
| T.D. on Rs. 260 | = Rs.(10/250×260) |
| = Rs. 10.40 |
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| 4. | A trader owens a merchant Rs.10,028 due 1` year hence. The trader wants to settle the account after 3 months.If the rate of interest is 12% per annum , how much cash should he pay? |
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| A. Rs.9025.20 | B. Rs.9200 |
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| C. Rs.9600 | D. Rs.9560 |
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| Solution |
| Required money | P.W of Rs.10028 due 9 months |
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| Rs.[10028x100/100+(12x9/12)] |
| = Rs.9200. |
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| 5. | The true discount on Rs.2562 due 4 months hence is Rs.122. The rate percent is |
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| A. 12 % | B. 13 % |
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| C. 15 % | D. 14 % |
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| Solution |
| P.W | = Rs.(2562 - 122) |
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| = Rs. 2440. |
| S.I on Rs.2440 for 4 months is Rs.12 |
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| Rate | = (100 x 122/2440x1/3)% |
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| = 15%. |
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