Aptitude True DiscountPage 1
1. | | A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of: | | (a)0% | | (b)5% | | (c)7.5% | | (d)10% |
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Answer is: AC.P. = Rs. 3000
S.P. = Rs.[(3600 x 100)/(100) + (10 x 2)] = Rs. 3000.
Gain = 0%.
2. | | 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% |
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Answer is: CP.W. = Rs. (2562 - 122) = Rs. 2440.
S.I. on Rs. 2440 for 4 months is Rs. 122.
Rate = [(100 x 122)/(2440 x 1/3)]% = 15%
3. | | 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)9025.50 | | (b)9200 | | (c)9600 | | (d)9560.20 |
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Answer is: BRequired money= P.W. of Rs. 10028 due 9 months hence =
Rs.[(10028 x 100)/(100 + 12 x (9/12)] = Rs. 9200.
4. | | 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. Which is the better offer? | | (a)12,000 in cash | | (b)12,880 at credit | | (c)Both are equally good | | (d)Nil |
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Answer is: AP.W. of Rs. 12,880 due 8 months hence= Rs.[(12880 x 100)/(100 + 18 x (8/12)]
P.W. of Rs. 12,880 due 8 months hence = Rs. (12880 x 100)/112
P.W. of Rs. 12,880 due 8 months hence = Rs. 11500
5. | | If Rs. 10 be allowed as true discount on a bill of Rs. 110 due at the end of a certain time, then the discount allowed on the same sum due at the end of double the time is: | | (a)20 | | (b)21.80 | | (c)22 | | (d)18.33 |
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Answer is: DS.I. on Rs. (110 - 10) for a certain time = Rs. 10.
S.I. on Rs. 100 for double the time = Rs. 20.
T.D. on Rs. 120 = Rs. (120 - 100) = Rs. 20.
T.D. on Rs. 110 = Rs.(20/120) x 110 = Rs. 18.33
6. | | Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is: | | (a)16(2/3)% | | (b)14(1/2)% | | (c)13(1/3)% | | (d)15% |
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Answer is: AS.P. = 102% of Rs. 600 = [(102/100) x 600] = Rs. 612.
Now, P.W. = Rs. 612 and sum = Rs. 688.50.
T.D. = Rs. (688.50 - 612) = Rs. 76.50.
Thus, S.I. on Rs. 612 for 9 months is Rs. 76.50.
Rate = [(100 x 76.50)/(612 x 3/4)]% = 16(2/3)%
7. | | The true discount on a bill due 9 months hence at 16% per annum is Rs. 189. The amount of the bill is: | | (a)1386 | | (b)1764 | | (c)1575 | | (d)2268 |
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Answer is: BLet P.W. be Rs. X
Then, S.I. on Rs. x at 16% for 9 months = Rs. 189.
X x 16 x (9/12) x (1/100) = 189 or X = 1575.
P.W. = Rs. 1575.
Sum due = P.W. + T.D. = Rs. (1575 + 189) = Rs. 1764.
8. | | A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of interest is 10% per annum, the man: | | (a)Gains Rs. 55 | | (b)Gains Rs. 50 | | (c)Gains Rs. 30 | | (d)Loses Rs. 30 |
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Answer is: BS.P.= P.W. of Rs. 2200 due 1 year hence = Rs. [(2200 x 100)/(100 + (10 x 1))]
S.P.= P.W. of Rs. 2200 due 1 year hence = Rs. 2000.
Gain = Rs. (2000 - 1950) = Rs. 50.
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