The banker's discount on a sum of money for 3 years is Rs. 1116. The…

Question

The banker's discount on a sum of money for 3 years is Rs. 1116. The true discount on the same sum for 4 years is Rs. 1200. What is the rate per cent?

Accepted Answer

Option D. 6%. Answer & Solution Answer: Option D Solution: & BD\, for\,3\, years = Rs .\,1116 & BD\, for\,4\, years = 11163 × 4 & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs . 1488 & TD\, for\,4\, years = Rs .\,1200 & F = BD × TDBD - TD & \,\,\,\,\,\,\, = 1…