21.
What is the present worth of Rs. 272.61 due in 2 years 73 days at 7
 1 2
per cent?
• A.
Rs. 334
• C.
Rs. 234
• B.
Rs. 254
• D.
None of these
• Report
Explanation :
100 x 272.61
100 +
 15 2
x 2
 73 365

27261
100 +
 33 2

 27261 x 2 233

 = Rs. 234
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22.
The true discount on Rs. 1860 due 3 years hence is Rs. 60. Find the rate per cent -
• A.
10%
• C.
5%
• B.
12%
• D.
15%
• Report
Explanation :
R =
 100 x T.D. P.W. x T
=
 100 x T.D. (A - T.D.) x T

 100 x 60 1800 x 3
= 10% [since P.W. = A - T.D.]
The rate per cent is 10% per annum.
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23.
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 -
• A.
4 months
• C.
3 months
• B.
6 months
• D.
None of these
• Report
Explanation :
5 =
 3050 - 3000 3000 x T
x 100
T =
 1 3
years = 4 months
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24.
What sum will discharge a debt of Rs. 5300 due a year and a half hence at 4% per annum?
• A.
Rs. 5000
• C.
Rs. 4200
• B.
Rs. 4500
• D.
Rs. 5250
• Report
Explanation :

Required sum =

100 x 5300
100 +
 3 2
x 4

 100 x 5300 106

 = Rs. 5000
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25.
What must be the rate of interest in order that the discount on Rs. 774.76 payable at the end of 3 years may be Rs. 83.01?
• A.
3%
• C.
4%
• B.
2%
• D.
None of these