| 1. | A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of: |
| a. | 0% |
| b. | 5% |
| c. | 7.5% |
| d. | 10% |
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Answer: (a).0%
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| 2. | The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is: |
| a. | 12% |
| b. | 13(1/3)% |
| c. | 15% |
| d. | 14% |
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Answer: (c).15%
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| 3. | A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay? |
| a. | Rs. 9025.20 |
| b. | Rs. 9200 |
| c. | Rs. 9600 |
| d. | Rs. 9560 |
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Answer: (b).Rs. 9200
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| 4. | A man wants to sell his scooter. There are two offers, one at Rs. 12,000 cash and the other a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum. Which is the better offer? |
| a. | Rs. 12,000 in cash |
| b. | s. 12,880 at credit |
| c. | Both are equally good |
| d. | None of these |
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Answer: (a).Rs. 12,000 in cash
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| 5. | If Rs. 10 be allowed as true discount on a bill of Rs. 110 due at the end of a certain time, then the discount allowed on the same sum due at the end of double the time is: |
| a. | Rs. 20 |
| b. | Rs. 21.81 |
| c. | Rs. 22 |
| d. | Rs. 18.33 |
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Answer: (d).Rs. 18.33
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