Question

The Bankers discount on the sum of money for 18 month is ₹600 and the true discount on the same sum for 3 year is ₹750 the rate percentage is?

Answer 1

Answer:

Rate Percentage = 20%

Step-by-step explanation:

Banker Discount =  Amount & Rate of interest * Time/100

Amount = A

Rate of interest = R %

Time = 18 months = 1.5 Years

600 = A R (1.5)/100

=> AR = 40000

True Discount = (Amount & Rate of interest * Time)/(100 + RT)

=> 750 = AR * 3 /(100 + 3R)

Putting AR = 40000

=> 750 = 40000 * 3/(100 + 3R)

=> 100 + 3R = 120000/750

=> 100 + 3R = 160

=> 3R = 60

=> R = 20

Rate Percentage = 20%