What rate percent does a man get for his money when in discounting a bill due 10 months hence, he deducts 10% of the amount of the bill?
Let amount of the bill = Rs.100
Money deducted =Rs.10
Money received by the holder of the bill = Rs.100-10 = Rs.90
SI on Rs.90 for 10 months = Rs.10
Rate =[(10010)/(9010/12)% = 13 1/3%
