Eight copies of a book can be bought for a certain sum payable at the end of a year and ten copies of the same book can be bought for the same sum in case money. What is the rate percentage of the interest?
A.15%
B.10%
C.25%✓ Correct
D.30%
Explanation
Let sum = ₹80. Cash price per book = 80/10 = ₹8. Credit price per book = 80/8 = ₹10. Interest = ₹2 on principal ₹8 for 1 year. Rate = (2/8)×100 = 25%.
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