A shopkeeper sells an item for βΉ571.20 after giving two successive discounts of 20% and 15% on its marked price. Had he not given any discount, he would have earned a profit of 12%. What is the cost price (in βΉ) of the item?
If the simple interest on a certain sum for 8 years is \( \frac{11}{25} \) of the sum, then the rate of interest per annum is:
7\( \frac{1}{2} \)%
6\( \frac{1}{2} \) %
8\( \frac{1}{2} \) %
5\( \frac{1}{2} \)%