If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?  Options:
A) 8 months  B) 11 months  C) 10 months  D) 9 months  E) 12 months
Explanation :   F = Rs. 498   TD = Rs. 18   PW = F - TD = 498 - 18 = Rs. 480   R = 5%   T9 months = (PW × TR)/100   ⇒ 18 = (480 × T × 5)/100   ⇒ 18 = 24 × T   ⇒ T = 18/24 = 3/4 years = (12×3)/4 months = 9 months Answer : Option 9 months
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If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?