The true discount on Rs. 1860 due after a certain time at 5% is Rs. 60. The time after which it is due is?
Correct Answer: 8 months
Explanation:
P.W. = (Sum due) - (T.D.)
= Rs. (1860 - 60) = Rs. 1800
Thus, Rs. 60 is S.I. on Rs. 1800 at 5% per annum
∴ Time = (100 x 60) / (1800 x 5) years
= 2 / 3 years = 8 months
