1.  Goods were bought for Rs. 600 and sold the same for Rs. 688.50 at a credit of 9 months and thus gaining 2% The rate of interest per annum is:
A. 16(2/3)%
B. 14(1/2)%
C. 13(1/3)%
D. 15%

Answer: Option A

Explanation:

S.P. = 102% of Rs. 600 = 102 x 600 = Rs. 612.
100

Now, P.W. = Rs. 612 and sum = Rs. 688.50.

T.D. = Rs. (688.50 - 612) = Rs. 76.50.

Thus, S.I. on Rs. 612 for 9 months is Rs. 76.50.

Rate = 100 x 76.50 % = 16%
612 x 3
4