Question

The discount of money leaders for 2 years is equal to 11 times for his profit what is rate of interest

Answer 1

Answer:

The present worth of the money is important to understand before dwelling into the true discount. Any money that is to be paid before the due date is cleared off for debt is known as the present worth of the money.

True discount can be understood in reference to this present worth. The difference between the present worth of the money and the amount is known as the true discount.

Also, it can be stated as the interest in any present worth for the amount of time the debt is due to be discharged.