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1. The banker's discount and the true discount on a sum of money due 8 months hence are Rs. 120 and Rs. 110 respectively. Find the rate percent.

A. $\frac{120}{11} %$

B. $\frac{130}{11} %$

C. $\frac{140}{11} %$

D. $\frac{150}{11} %$

Solution:

\begin{aligned} Sum = \frac{B . D . \times T . D .}{B . D . - T . D .} \\ = Rs . \frac{120 \times 110}{120 - 110} \\ = Rs . 1320 \end{aligned}

Since B.D. is S.I. on sum due, so S.I. on Rs. 1320 for 8 months is Rs. 120.

\begin{aligned} Rate = \frac{100 \times 120}{1320 \times \frac{2}{3}} % \\ = \frac{150}{11} % \end{aligned}

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