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If the true discount on a sum of money is $100 at 8% per annum for 1 year, what

Practice Questions

Q1
If the true discount on a sum of money is $100 at 8% per annum for 1 year, what is the sum?
  1. $1200
  2. $1300
  3. $1400
  4. $1500

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If the true discount on a sum of money is $100 at 8% per annum for 1 year, what is the sum?
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