Rate from BD and TD (repeat form): The banker’s discount on a sum for 1.5 years is ₹60 and the true discount on the same sum for 2 years is ₹75. Find the rate percent.
Aptitude
Banker's Discount
Difficulty: Medium
Choose an option
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A5%
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B6%
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C62/3%
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D31/3%
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ENone of these
Answer
Correct Answer: 31/3%
Explanation
Introduction / Context:This is the same structural setup as a prior item and leads to the same rate. We repeat the concise derivation for completeness and clarity.
Given Data / Assumptions:BD(1.5 y) = ₹60, TD(2 y) = ₹75, face value A common, rate r unknown.
Concept / Approach:
BD = A * r * 1.5 ⇒ A r = 40 TD = A * (2r) / (1 + 2r) = 75 ⇒ A(2r) = 80 75 = 80 / (1 + 2r) ⇒ 1 + 2r = 16/15 ⇒ r = 1/30 = 3 1/3 %Final Answer:31/3%