The true discount on Rs. 1760 due after a certain time at 12% per annum is Rs. 160. What is the time period:
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Answer: D. 10 months
Explanation
True discount represents the simple interest on the present worth of a bill due at a future date. Subtracting the true discount of one hundred sixty from the bill amount gives a present worth of sixteen hundred. Applying the simple interest formula with twelve percent annual rate yields a time period of ten months. True discount equals the difference between the face value of a bill and its calculated present worth value. Present worth is the principal amount that, with simple interest added, equals the true bill amount due. Simple interest time calculations divide interest earned by the product of principal and annual interest rate.
Option A suggests six months which underestimates the time period required to earn the discount. Option B suggests eight months which fails to satisfy the simple interest present worth equation balance. Option C suggests nine months which results in an incorrect interest calculation for the principal.
- Subject
- Mathematics
- Category
- Mathematics
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- —
- Difficulty
- medium
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