The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:	Select
A) 18%  B) 12%  C) 15%  D) 25%  E) 14%
Explanation:   Ans. C. 15%   The true discount on Rs. 2562 due 4 months hence is Rs. 122.   Therefore Present Worth is = 2562 – 122 = 2440.   It means that Rs. 122 is interest on Rs. 2440 for 4 months.   Therefore rate percent is = (122 × 100 × 12)/(2440 × 4) = 15%   Answer: 15%
<result>C</result>
The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is: