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

Question

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 ?

Answer 1

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

600 + ((2/100)*600)
600+12=612
Now rate of int. will be calculated with formula
S.I. = P*T*R/100
Here S.I.=650.25-612=38.25
P=612,
T=9/12=3/4
applying formula we get

R=25/3 %

Comments

I think P should be 600 as you take money only to buy item which is 600, so
38.25=600*.75*R/100

or R = 8.5

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rate of interest has to be calculated on the total money which is 600 + 2% gain ...

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+1 May be u r right :)

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oo man y r u getting confused ???

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Old age effect ha ha ha :)

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ha ha ha =D mind never gets old ....