Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:
16 $\dfrac{2}{3}%$
14$\dfrac{1}{2}%$
13$\dfrac{1}{3}%$
15%
Explanation:
S.P. = 102% of Rs. 600 =$(\dfrac{102}{100}\times 600)$=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=$[\dfrac{100 \times 76.50 }{612 \times \dfrac{3}{4}}]$%=16$\dfrac{2}{3}$%
S.P. = 102% of Rs. 600 =$(\dfrac{102}{100}\times 600)$=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=$[\dfrac{100 \times 76.50 }{612 \times \dfrac{3}{4}}]$%=16$\dfrac{2}{3}$%