1.  Vandana bought a watch for 600 and sold it the same day for 688.50 at a credit of 9 months and this way she gained 2%. Find the rate of interest per annum?

5^2/3%
11^2/3%
15^2/3%
16^2/3%

```Answer

Answer: Option  D Explanation:SP = 102% of 600 = (102/100) x 600 =612
Now, PW =612 and sum =688.50
∴ TD = 688.50 - 612 = 76.50
Thus, SI on 612 for 9 months is 76.50.
∴ Rate = (100 x 76.50) / (612 x 3/4)
= (100 x 76.50) / (153 x 3)
=16^2/3% ```

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2.   If the interest on Rs. 50 at 41/2 be equal to the discount on Rs. 59 for the same time and at the same rate when is the latter sum due ?

2 years
4 years
3 years
6 years

```Answer

Answer: Option  B Explanation:∵ 9/2 = [(59 - 50) x 100] / 50 x T
∴ T = 4 years ```

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3.  Find the present worth of a bill of Rs. 2420 due 2 years later at 10% compound interest. Also find the true discount ?

Rs. 2000, Rs. 420
Rs. 2200, Rs. 520
Rs. 2100, Rs. 460
None of these

```Answer

Answer: Option  A Explanation:Here sum is put on compound interest,
∵ P.W. = A / (1 + r / 100)n = 2420 / (1 + 10 / 100)2 = 2420 x 100 / 121 = Rs. 2000
⇒ T.D. = P.W. - P
∴ True discount = 2420 - 2000 = Rs. 420 ```

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4.  The true discount on Rs. 340 due 5 years hence is Rs. 40. Find the rate percent?

3^2/3%
3^1/3%
2^2/3%
3%

```Answer

Answer: Option  C Explanation:T.D. = [Amount x R x T] / [100 + (R x T)]
⇒ 40 = [340 x R x 5] / [100 + 5R]
⇒ 40 = (1700 x R) / (100 + 5R)
∴ R = 2^2/3%; ```

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5.  If the discount on Rs. 3050 be equal to the simple interest on Rs. 3000 for the same time. Find the time, the rate of interest being 5% per annum ?

4 months
6 months
3 months
None of these

```Answer

Answer: Option  A Explanation:∵ 5 = {(3050 - 3000) / (3000 x T)} x 100
∴ T = 1/3 years = 4 months ```

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