The true discount on Rs. 2,562 due 4 months hence is Rs.

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The true discount on Rs. 2,562 due 4 months hence is Rs. 122. The rate percent is?

1. 12
2. 13
3. 15
4. 14

Correct Option: C

Given in the question ,
Present Worth = 2562 − 122 = Rs. 2440;

Rate =	100 x 122	= 15%
	2440 x ( 1/3 )

Hence , required rate percent is 15% .