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26.
A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of interest is 10% per annum, the man:
  • A.
    gains Rs. 55
  • C.
    loses Rs. 30
  • B.
    gains Rs. 50
  • D.
    gains Rs. 30
  • Answer & Explanation
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Answer : [B]
Explanation :
S.P. = P.W. of Rs. 2200 due 1 year hence
  = Rs.  
2200 x 100
100 + (10 x 1)
     
  = Rs. 2000.  
 
  Gain = Rs. (2000 - 1950) = Rs. 50.  
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27.
The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:
  • A.
    12%
  • C.
    15%
  • B.
    13    		 1 %  
    3  
  • D.
    14%
  • Answer & Explanation
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Answer : [C]
Explanation :
P.W. = Rs. (2562 - 122) = Rs. 2440.
 
  S.I. on Rs. 2440 for 4 months is Rs. 122  
 
  Rate =
 
100 x 122
2440 x
1
3
 
% = 15%  
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28.
A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?
  • A.
    Rs. 9025.20
  • C.
    Rs. 9600
  • B.
    Rs. 9200
  • D.
    Rs. 9560
  • Answer & Explanation
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Answer : [B]
Explanation :
Required money = P.W. of Rs. 10028 due 9 months hence
= Rs.   
10028 x 100
100 +  
12 x
9
12
 
   = Rs. 9200.
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29.
A owes B Rs. 456.75 payable 4
1
2
 Months hence and B owes A Rs. 455.51 payable 3 months  
hence. If they agree to settle their account by a ready money payment. What sum should
be paid over and to whom reckoning the rate of true discount at 4 per cent per annum?
  • A.
    Re. 1, A
  • C.
    Rs. 2, A
  • B.
    Rs. 2, B
  • D.
    Re. 1, B
  • Answer & Explanation
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Answer : [A]
Explanation :
  Time = 4
1
2
 months =
3
8
 year,  
  Rate = 4 per cent
 
 

Amount of Rs. 100 = Rs.
203
2
 
 
 

P.W. = Rs.

456.75
 
 
203
2
 x 100
  = Rs. 450  
  Again, time = 3 months =
1
4
 year, rate = 4 per cent  
  P.W. = Rs. 455.51 x
100
101
 
  = Rs. 451  
Hence the required sum to be paid to A = Rs. 451 – Rs. 450 = Re. 1
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30.
The difference between the simple interest and the true discount on a certain sum for 6 months at 4% is Rs. 15. Find the sum -
  • A.
    Rs. 32850
  • C.
    Rs. 38250
  • B.
    Rs. 28250
  • D.
    Rs. 38350
  • Answer & Explanation
  • Report
Answer : [C]
Explanation :
 
  15 =
A x   4 x
1
2
  2
100   100 + 4 x
1
2
   
       
 
15 =  
A x 4
100 x 102
   
 
    A = 15 x 25 x 102    
 
    A = Rs. 38,250    
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