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What is the rate percent if Goods were bought for Rs 600 and sold the same day for Rs 650.25...

+1 vote

Goods were bought for Rs 600 and sold the same day for Rs 650.25 at a credit of 9 months and still there was a gain of 2%.

What is the rate percent ?

posted Oct 28, 2014 by Saif Khanam

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1 Answer

+2 votes

2% gain so Sold at 600+2% of 600

600 + ((2/100)*600)
Now rate of int. will be calculated with formula
S.I. = P*T*R/100
Here S.I.=650.25-612=38.25
applying formula we get

R=25/3 %

answer Oct 29, 2014 by Amit Kumar Pal
I think P should be 600 as you take money only to buy item which is 600, so

or R = 8.5
rate of interest has to be calculated on the total money which is 600 + 2% gain ...
+1 May be u r right :)
oo man y r u getting confused ???
Old age effect ha ha ha :)
ha ha ha =D mind never gets old ....
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