If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?
Answer: D
F = Rs. 498 TD = Rs. 18
PW = F – TD = 498 – 18 = Rs. 480
R = 5%
TD = (PW*TR)/100
=> 18 = (480*T*5)/100
=> 18 = 24*T
=> T = 18/24 = 3/4YEAR = 12*3/4 months = 9 Months