The banker s discount on Rs 1600 at 6% is the same as the true discount on Rs 1624 for the same time and at the same rate .Find the interval of time between the date of discounting and the legally due date.
4 months
14 months
3 months
13 months
Explanation:
Let the interval of time be x years.
B.D=$\dfrac{1600 \times 6 \times x}{100}$
T.D=$\dfrac{1624 \times 6 \times x}{100+(6 \times x)}$
x=$\dfrac{1}{4}$years or 3months.
Let the interval of time be x years.
B.D=$\dfrac{1600 \times 6 \times x}{100}$
T.D=$\dfrac{1624 \times 6 \times x}{100+(6 \times x)}$
x=$\dfrac{1}{4}$years or 3months.