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    Question

    A table is available for Rs.350 or for Rs. 150 cash down

    payment together with Rs.230 to be paid after two months. Find the rate of interest charged under this scheme.
    A 90% Correct Answer Incorrect Answer
    B 80% Correct Answer Incorrect Answer
    C 70% Correct Answer Incorrect Answer
    D 60% Correct Answer Incorrect Answer
    E 75% Correct Answer Incorrect Answer

    Solution

    Amount as a principal for first and second month = 350 - 150 = Rs. 200 Now, Interest = 230 - 200 = Rs.30 30 = 200 × 2 × R/ (100 × 12) r = 90%

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