1.  The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:
A. 12%
B. 13(1/3)%
C. 15%
D. 14%

Answer: Option C

Explanation:

P.W. = Rs. (2562 - 122) = Rs. 2440.

S.I. on Rs. 2440 for 4 months is Rs. 122.

Rate = 100 x 122 % = 15%.
2440 x 1
3