Multiple Choice Questions on The total discount on Rs 1860 due after a certain time at 5 is Rs 60 Find the time after which it is........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The total discount on Rs 1860 due after a certain time at 5 is Rs 60 Find the time after which it is...........

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    The total discount on Rs. 1860 due after a certain time at 5% is Rs. 60. Find the time after which it is due

    9 months

    Incorrect Answer

    10 months

    Incorrect Answer

    8 months

    Correct Answer

    7 months

    Incorrect Answer
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    Explanation:

    Amount (A) = 1860/-,
    True Discount = 60/-,
    Rate of interest (R) = 5%
    Time (T) = 100 × TD /(A – TD) × R
    = 100 × 60 /(1860 – 60) × 5
    ⇒ T = 100 × 60 /1800 x 5 = 2/3 yrs
    Total months = 12 x 2 /3 = 8 months

    By: Amit Kumar
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