What will be the Rate of Percent? If

The percent worth of a bill due 7 months hence is Rs. 1200 and if the bill were due at the end of 5/ 2 years its percent worth would be Rs. 1016. The rate of percent is

  1. 5%
  2.  10%
  3.  15%
  4.  20%
vikram Default Asked on 22nd July 2015 in Maths.
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1 Answer(s)

Answer: 10%
Explanation:-
Formula-
P W = 100 x Amount/(100 + Rate x Time)
Time = 7/12 year , P W = 1200, (Given)
Then,
1200 = 100 x Amount/(100 + 7R/12)              . ……………. (1)
Second condition,
P W = 1016, T = 5/2 years = 2.5 years.
Then,
1016 = 100 x Amount/(100 + 2.5 R) ………….. (2)
Comparing equation (1) & (2)
1200 (100 + 7 R/12) = 1016 (100 + 2.5 R)
12, 0000 + 700 R = 101600 + 1016 x 2.5 R
2540 R – 700 R = 120000 – 101600
1840 R = 18400
R = 18400/1840
R = 10 %
Hence, the answer is (2) 10%.

Anurag Mishra Professor Answered on 22nd July 2015.
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