-
The interest on a certain sum of money is Rs. 67.20 and the discount on the same of money for the same time and at the same rate is Rs. 60. What is sum ?
-
- Rs. 560
- Rs. 480
- Rs. 590
- Rs. 860
Correct Option: A
Interest on Sum - True discount
= Interest on true Discount.
Proof Sum = P.W. + T.D.
∴ Interest on Sum = Interest on P.W. + Interest on T.D.
= T.D. + Interest on T.D.
Interest on Sum - T.D. = Interest on T.D. or Banker's gain = Int. on T.D.
Rs. 67.20 - Rs. 60 = Interest on Rs. 60
∴ Rs. 71/5 = Interest on Rs. 60
∴ Re.1 = Interest on Rs. 60/71/5
∴ Rs. 671/5 = Interest on Rs. 60 / 71/5 x 671/5
∴ The required sum = Rs. 60/71/5 x 671/5 = Rs. 560
