# 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

- 5%
- 10%
- 15%
- 20%

**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%.