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?
Answer
The correct answer is C: 25%. Let sum = ₹80. Cash price per book = 80/10 = ₹8.
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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