general math MCQ #259

The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:_________?

general math MCQ #259

  1. Question 1

    Q1. The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:_________?

    • A) 12%
    • B) 13%
    • C) 15%
    • D) 14%

    Answer: 15%

    Explanation: Present value = 2562−122 = 2440; rate = (122×100)/(2440×(4/12)) = 12200/813.33 = 15%.