The true discount on a certain sum money due 4 yr hence is ₹ 75 and the simple interest on the same sum for the same time and at the same rate of interest is ₹ 225. Find the rate per cent.
Correct Answer: 50%
Explanation:
Given that, SI = ₹ 225, TD = ₹ 75,
T = 4 yr and R = ?
According to the formula,
SI - TD = (TD x R x T)/100
⇒ 225 - 75 = (75 x R x 4)/100
⇒ 150 = (75 x R x 4) /100
⇒ 3R = 150
R = 50%
