The banker's discount on Rs. 1600 at 15% per year is the same as true discount on Rs. 1680 for the same time and at the same rate. The time is:
Choose the correct choice from the following: A) 3 months B) 4 months C) 6 months D) 8 months E) 7 months
Simple Interest on Rs. 1600 = T.D. on Rs. 1680.   Therefore Rs. 1600 is the P.W. of Rs. 1680, i.e., Rs. 80 is on Rs. 1600 at 15%.   Therefore, Time = (100 x 80 / 1600 x 15)	year   = 1/3 year = 4 months.   Correct answer is 4 months.
<result>B</result>
The banker's discount on Rs. 1600 at 15% per year is the same as true discount on Rs. 1680 for the same time and at the same rate. The time is: