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01. The interest on Rs. 750 for 2 years is the same as the true discount on Rs. 960 due 2 years hence. If the rate of interest is the same in both cases, it is: 
A. 12% B. 14%
C. 15% D. 16 2/3 %

Answer and Explanation

Answer: 14%

Explanation:
S.I. on Rs. 750 = T.D. on Rs. 960.
This means P.W. of Rs. 960 due 2 years hence is Rs. 750.
T.D. = Rs. (960 - 750) = Rs. 210.
Thus, S.I. on R.s 750 for 2 years is Rs. 210.
Rate = (100 x 210)/(750 x 2 )  % = 14%
 

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02. Rs. 20 is the true discount on Rs. 260 due after a certain time. What will be the true discount on the same sum due after half of the former time, the rate of interest being the same? 
A. Rs. 10 B. Rs. 10.40
C. Rs. 15.20 D. Rs. 13

Answer and Explanation

Answer: Rs. 10.40

Explanation:
S.I. on Rs. (260 - 20) for a given time = Rs. 20.
S.I. on Rs. 240 for half the time = Rs. 10.
T.D. on Rs. 250 = Rs. 10.
T.D. on Rs. 260 = Rs. (10/250) x 260 = Rs. 10.40



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03. A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay? 
A. Rs. 9025.20 B. Rs. 9200
C. Rs. 9600 D. Rs. 9560

Answer and Explanation

Answer: Rs. 9200

Explanation:

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04. A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Approximately, which is the better offer? 
A. Rs. 12,000 in cash B. Rs 12,880 at credit
C. Both are equally good D. Cannot be determined

Answer and Explanation

Answer: Rs. 12,000 in cash

Explanation:

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05. If the true discount on s sum due 2 years hence at 14% per annum be Rs. 168, the sum due is: 
A. Rs. 768 B. Rs. 968
C. Rs. 1960 D. Rs. 2400

Answer and Explanation

Answer: Rs. 768

Explanation:

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06. A man purchased a bicycle for Rs.4800 and sold it immediately at Rs.5995, allowing the buyer a credit of one and a half years. If the rate of interest is 6%, then the man gains:
A. Rs.700 B. Rs.1195
C. Rs.495 D. Rs.900

Answer and Explanation

Answer: Rs.700

Explanation:

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07. Gopal has to pay Rs.440 to Ajay after 1 year. Ajay asks Gopal to pay Rs.220 in cash and defer the payment of Rs.220 for 2 years. If the rate of interest is 10% per annum, in this mode of payment:
A. Gopal gains Rs.3.33 B. Ajay gains Rs.3.33
C. Ajay loses Rs.16.67 D. Gopal loses Rs.16.67

Answer and Explanation

Answer: Ajay gains Rs.3.33

Explanation:

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08. The present worth of Rs 2,310 due 2 ½ years hence, the rate of interest being 15% per annum is
A. Rs 1,750    B. Rs 1,680    
C. Rs 1,840     D. Rs 1443.75

Answer and Explanation

Answer: Rs 1,680    

Explanation:
PW = Rs [(100 * 2310) / (100 + {15 * 5/2})] = Rs 1680

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09. If the true discount on a sum 2 yrs hence at 14% per annum be Rs 168, the sum due is
A. Rs 768    B. Rs 968   
C. Rs 1,960      D. Rs 910

Answer and Explanation

Answer: Rs 768   

Explanation:
PW = (100 * TD) / (R * T) = (100 * 2)/(14 *2) = 600


Sum = (PW + TD) = Rs (600 + 168) = Rs 768

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10. The true discount on Rs 1,760 due after a certain time at 12% per annum is Rs 160. The time after which it is due is
A. 6 months    B. 8 Months    
C. 9 months     D. 10 months

Answer and Explanation

Answer: 10 months

Explanation:
PW = Rs (1760 – 160) = Rs 1600
SI on Rs 1600 at 12% is Rs 160
Hence, Time = (100 * 160)/(1600 * 12) = 5/6 years = (5/6 * 12) = 10months

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