goods were bought for rs 600 and sold the same day 688..., Discount, General Mathematics

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

A `16 2/3%` 
B `14 1/2%` 
C `13 1/3%` 
D `15%`

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+ AnswerA

+ ExplanationS.P.`= 102%` of `Rs. 600`

`=Rs. (102/100 xx 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. 76.50.`

:. Rate`= ((100 xx 76.50)/(612 xx 3/4))%`

`= 16 2/3%`.

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