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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
  • Answer & Explanation
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Answer : [C]
Explanation :
Required answer =
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%
  • Answer & Explanation
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Answer : [A]
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
  • Answer & Explanation
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Answer : [A]
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
  • Answer & Explanation
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Answer : [A]
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
  • Answer & Explanation
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Answer : [C]
Explanation :
Rate % =
100 x 83.1
(774.76 - 83.01) x 3
 
8310
691.75 x 3
 
  = 4%  
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