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True Discount - General Aptitude

Q1:

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:

A
16 2 %
3

B
14 1 %
3

C
13 1 %
3

D 15%

ANS:A -

16 2 %
3

S.P. = 102% of Rs. 600 = 102 x 600 = Rs. 612.
100
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 = 100 x 76.50 % = 16%
612 x 3
4