Discounts
Practice aptitude questions
Q 1 - Find the single discount which is equivalent to successive discounts of 15% and 16%.
Solution
Successive discount is calculated as X+Y-XY/100 %
Successive discount =15+16-15*16/100=31-240/100=28.6 %
Q 2 - The true discount on a bill due 6 months hence at 8% per annum is Rs. 296. The amount of the bill is:
Solution
Let P.W. be Rs. X.
Then, S.I. on Rs. X at 8% for 6 months = Rs. 296.
X*8* (6/12) * (1/100) =296
X= (296*100)/4=7400
P.W. = Rs. 7400.
Q 3 - A trader owes a merchant Rs. 5014 due 1 year hence. The trader wants to settle the account after 6 months. If the rate of interest 6% per annum, how much cash should he pay?
Solution
Required money = present worth of Rs. 5014 due 6 months hence= Rs. 5014*100/( 100+(9*6/12))
= Rs. 4867.96
Q 4 - A man buys a watch for Rs. 2825 in cash and sells it for Rs. 3300 at a credit of 1 year. If the rate of interest is 15% per annum, the man:
Solution
S.P. = P.W. of Rs. 3300 due 1 year hence = 3300*100/( 100+(10*1))=Rs.3000
So Gain = Rs. (3000-2825) =Rs. 175.
Q 5 - Find a single discount which is equivalent to three successive discounts of 15%, 16% & 20%.
Solution
Successive discount is calculated as X+Y-XY/100 %
Successive discount =15+16-15*16/100=31- 240/100=28.6 %
Successive discount =28.6+20-28.6*20/100=48.6-5.72=42.88%
Q 6 - The present worth of Rs 2800 due 2 years henceforth at 6% p.a. is:
Solution
P.W. = ((100*A))/(100+(R*T))- Rs {(100*2800)/(100+(6*2))}
=Rs ((100*2800)/112)=Rs 2500
Q 7 - The basic hobby and the true rebate on a sure aggregate for a given time and at a given rate are Rs 85 and Rs 80 separately. The entirety due is:
Solution
Sum due = ((S.I.)*(T.D.))/((S.I.)-(T.D.))=Rs ((85*80))/((85-80))=((85*80))/5= Rs 1360
Q 8 - A man bought dairy animals for Rs 3000 in real money and sold it that day for Rs 3660 due 2 years consequently. In the event that the rate of hobby is 10% p.a., the man picks up:
Solution
C.P. = Rs 3000
S.P. = P.W. of Rs 3660 due years hence
= Rs ((100*3660))/(100+(10*2))=Rs ((100*3660))/120 = Rs 3050
∴ Gain% = (50/3000*100)% = 5/3%
Q 9 - In the event that Rs 20 be permitted as genuine rebate on a bill of Rs 260 due after at some point, what will be the genuine markdown on the same bill for half of the time?
Solution
S.I. on Rs (260-20) for a fixed time = Rs 20
S.I. on Rs 240 for half the time = Rs 10
T.D. on Rs 250 = Rs 10
T.D. on Rs 260 = Rs (10/250*260) = Rs 10.40
Q 10 - A businessperson needs to pay to a wholesaler a total of Rs 10028 following 1 year. He needs to pay the obligation following 3 months. On the off chance that the rate of hobby is 12% p.a., the amount he will need to pay?
Solution
Payment to be made = P.W. of Rs. 10028 due 9 months hence
= Rs ((100*10028))/(100+(12*3/4) )= Rs ((100*10028))/109= Rs 9200