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1. 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%

Solution:

\begin{aligned} P .W . = R s . (2562 - 122) \\ = R s .2440 \\ ∴ S .I . on Rs . 2440 for 4 months is Rs . 122 . \\ ∴ Rate = [\frac{100 \times 122}{2440 \times \frac{1}{3}}] % = 15 % \end{aligned}

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