India’s No.1 Educational Platform For UPSC,PSC And All Competitive Exam
• 0
• Donate Now

# 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:

Option :

Explanation:

Solution:
$\begin{array}{rl}& \text{S}\text{.P}\text{.}=102\mathrm{%}\phantom{\rule{thinmathspace}{0ex}}of\phantom{\rule{thinmathspace}{0ex}}Rs.\phantom{\rule{thinmathspace}{0ex}}600\\ & =\left(\frac{102}{100}×600\right)\\ & =Rs.\phantom{\rule{thinmathspace}{0ex}}612.\\ & \text{Now,}\phantom{\rule{thinmathspace}{0ex}}\text{P}\text{.W}\text{. = Rs}\text{.612}\phantom{\rule{thinmathspace}{0ex}}\text{and}\phantom{\rule{thinmathspace}{0ex}}\text{sum}\\ & =Rs.\phantom{\rule{thinmathspace}{0ex}}688.50.\\ & \therefore \text{T}\text{.D}\text{.}=Rs.\phantom{\rule{thinmathspace}{0ex}}\left(688.50-612\right)\\ & =Rs.\phantom{\rule{thinmathspace}{0ex}}76.50.\\ & \text{Thus,}\phantom{\rule{thinmathspace}{0ex}}\text{S}\text{.I}\text{.}\phantom{\rule{thinmathspace}{0ex}}\text{on}\phantom{\rule{thinmathspace}{0ex}}\text{Rs}\text{.}\phantom{\rule{thinmathspace}{0ex}}\text{612}\phantom{\rule{thinmathspace}{0ex}}\text{for}\phantom{\rule{thinmathspace}{0ex}}\text{9}\phantom{\rule{thinmathspace}{0ex}}\text{months}\phantom{\rule{thinmathspace}{0ex}}\text{is}\phantom{\rule{thinmathspace}{0ex}}\text{Rs}\text{.}\phantom{\rule{thinmathspace}{0ex}}\text{76}\text{.50}\text{.}\\ & \therefore \text{Rate}=\left(\frac{100×76.50}{612×\frac{3}{4}}\right)\mathrm{%}\\ & =16\frac{2}{3}\mathrm{%}\phantom{\rule{thinmathspace}{0ex}}\end{array}$