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
B
C
D
`16 2/3%`
B
`14 1/2%`
C
`13 1/3%`
D
`15%`
Note: S.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%`.