6.
Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:
A.
16 2 %
3
B.
14 1 %
2
C.
13 1 %
3
D. 15%
Answer & Explanation
Answer: Option A
Explanation:
S.P. = 102% of Rs. 600 = 102 x 600 = Rs. 612.
100
Now, P.W. = Rs. 612 and sum = Rs. 688.50.
T.D. = Rs. (688.50 – 612) = Rs. 76.50.
Thus, S.I. on Rs. 612 for 9 months is Rs. 76.50.
Rate = 100 x 76.50 % = 16%
612 x 3
4
7.
The true discount on a bill due 9 months hence at 16% per annum is Rs. 189. The amount of the bill is:
A. Rs. 1386 B. Rs. 1764
C. Rs. 1575 D. Rs. 2268
Answer & Explanation
Answer: Option B
Explanation:
Let P.W. be Rs. x.
Then, S.I. on Rs. x at 16% for 9 months = Rs. 189.
x x 16 x 9 x 1 = 189 or x = 1575.
12 100
P.W. = Rs. 1575.
Sum due = P.W. + T.D. = Rs. (1575 + 189) = Rs. 1764.
8.
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 interest is 10% per annum, the man:
A. gains Rs. 55 B. gains Rs. 50
C. loses Rs. 30 D. gains Rs. 30
Answer & Explanation
Answer: Option B
Explanation:
S.P. = P.W. of Rs. 2200 due 1 year hence
= Rs. 2200 x 100
100 + (10 x 1)
= Rs. 2000.
Gain = Rs. (2000 – 1950) = Rs. 50.
9.
The true discount on Rs. 1760 due after a certain time at 12% per annum is Rs. 160. The time after which it is due is:
A. 6 months B. 8 months
C. 9 months D. 10 months
Answer & Explanation
Answer: Option D
Explanation:
P.W. = Rs. (1760 -160) = Rs. 1600.
S.I. on Rs. 1600 at 12% is Rs. 160.
Time = 100 x 160 = 5 years = 5 x 12 months = 10 months.
1600 x 12 6 6
10.
The present worth of Rs. 2310 due 2 years hence, the rate of interest being 15% per annum, is:
A. Rs. 1750 B. Rs. 1680
C. Rs. 1840 D. Rs. 1443.75
Answer & Explanation
Answer: Option B
Explanation:
P.W. = Rs. 100 x 2310 = Rs. 1680.
100 + 15 x 5
2