The banker’s discount on Rs. 1600 at 12% per annum is equal to the true discount on Rs. 1872 for the same time at the same rate. Find the time?
2/9
3/8
4/5
11/15
Explanation:
Given that,
S.I. on Rs. 1600 = T.D. on Rs. 1872
Therefore, P.W. of Rs. 1872 is Rs. 1600
Therefore, Rs.72 is S.I. on Rs. 1600 at 12%
here, B.G. = Rs. 72
Rate = 12%
T.D. = Rs. 1600
Now, consider
T.D. = $\dfrac{B.G.∗100}{Rate∗Time}$
⇒ Time = $\dfrac{B.G.∗100}{Rate∗T.D.}$
⇒ Time = $\dfrac{72∗100}{12∗1600}$
⇒ Time = $\dfrac{3}{8}years$