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1. If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?

A. 8 months

B. 11 months

C. 10 months

D. 9 months

Solution:

F = Rs. 498
TD = Rs. 18
PW = F - TD = 498 - 18 = Rs. 480
R = 5%

\begin{aligned} T D = \frac{P W \times T R}{100} \\ \Rightarrow 18 = \frac{480 \times T \times 5}{100} \\ \Rightarrow 18 = 24 \times T \\ \Rightarrow T = \frac{18}{24} = \frac{3}{4} years \\ = \frac{12 \times 3}{4} months \\ =  9 months \end{aligned}

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