Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a c…

Question

Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:

Accepted Answer

Option A. 162/3 %. Answer & Solution Answer: Option A Solution: & S .P . = 102\% \,of\,Rs.\,600 & = 102100 × 600 & = Rs.\,612 & Now,\, & P .W . = Rs . 612\, and\, sum = Rs.\,688.50 & T .D . = Rs.\, ( 688.50 - 612 ) & = Rs.\,76.50. & Thus,\, S .I .\, on\, Rs .\, 612\, for\, 9\, months\, is\, Rs .\,…