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The banker's discount on a sum of money for 1 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

Answer :

the answer is 15% i think
check it

Answer:

Given:

  • The banker's discount on a sum of money for 1 year is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600.

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Find:

  • The rate percent is.

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Calculations:

= 558 × 2/3 × 2

= 744

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= 744 × 600/144

= 3100

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= 744 × 100/2 × 3100

= 12℅

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Hence, 12% is the bankers discount.

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