The true discount on rs. 2562 due 4 months hence is rs. 122. The rate percent is:
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2
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4
Answer:
15%
Explanation:
Given amount P=2562,N=4 months S.I=122
S.I=PNR/100
due to true discount P=>2562-122=2440
122=(2440*4/12 *R)/100
=>122=(2440*R)/300
=>R=(300*122)/2440
R=15%
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