The true discount on a bill due 9 months hence at 16% per annum is Rs. 189. The amount of the bill is?
Answer: Rs. 1764
Explanation
True Discount (TD) = Rs. 189
Rate (R) = 16% per annum
Time (T) = 9 months = 3/4 year
Using the formula:
TD = (P x R x T) / 100
where P is the amount of the bill, we can rearrange the formula to solve for P:
P = TD x 100 / (R x T)
= 189 x 100 / (16 x 3/4)
= 189 x 100 / 12
= 1764
So, the amount of the bill is Rs. 1764.
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