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If the true discount on a sum is $150 and the time is 4 years at a rate of 5% pe

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Question: If the true discount on a sum is $150 and the time is 4 years at a rate of 5% per annum, what is the sum?

Options:

  1. $1200
  2. $1300
  3. $1400
  4. $1500

Correct Answer: $1400

Solution: 

Let the sum be x. True Discount = x * 5 * 4 / 100. Thus, 150 = x * 20 / 100. Solving gives x = $750. Therefore, the sum = $750 + $150 = $900.

If the true discount on a sum is $150 and the time is 4 years at a rate of 5% pe

Practice Questions

Q1
If the true discount on a sum is $150 and the time is 4 years at a rate of 5% per annum, what is the sum?
  1. $1200
  2. $1300
  3. $1400
  4. $1500

Questions & Step-by-Step Solutions

If the true discount on a sum is $150 and the time is 4 years at a rate of 5% per annum, what is the sum?
  • True Discount – True discount is the difference between the nominal value of a sum and its present value, calculated based on the time and interest rate.
  • Interest Calculation – Understanding how to calculate interest over a period of time using the formula for simple interest.
  • Present Value and Future Value – The relationship between present value, future value, and the discount applied over time.
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