The banker's discount on a sum of money for 3/2 years is Rs. 120. The true discount on the same sum for 2 years is Rs.150. What is the rate per cent?	Select
A) 3(1/3)% B) 4(1/3)% C) 3(2/3)% D) 4(2/3)% E) None of these
Explanation :   BD for 1(1/2) years = Rs. 120   =&gt; BD for 2 years = 120 × (2/3) × 2 = Rs.160   TD for 2 years = Rs. 150   F = (BD ×TD)/(BD – TD) = (160 × 150)/(160 – 150) = (160 × 150)/10 = Rs. 2400   =&gt; Rs.160 is the simple interest on Rs. 2400 for 2 years   ⇒ 160 = (2400 × 2 × R)/100   ⇒ R = (160 × 100)/(2400×2) = 160/48 = 10/3 = 3(1/3)% 3(1/3)%nswer 3(1/3)%
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The banker's discount on a sum of money for 3/2 years is Rs. 120. The true discount on the same sum for 2 years is Rs.150. What is the rate per cent?