true discount aptitude questions

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

 

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