Banker's Discount
- The true discount on a bill of Rs. 1860 due after 8 months is Rs. 60. Find the banker's discount ?
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Amount = Rs. 1860.
True discount = Rs. 60
∴ Present worth = Rs. 1860 - Rs. 60 = Rs. 1800
S.I. on Rs. 1800 for 8 months = Rs. 60Correct Option: A
Amount = Rs. 1860.
True discount = Rs. 60
∴ Present worth = Rs. 1860 - Rs. 60 = Rs. 1800
S.I. on Rs. 1800 for 8 months = Rs. 60
∴ Rate = [(100 x 60) / (1800 x 2/3)]% = 5%
∴ Banker's discount = (1860 x 5 x 2/3)/100 = Rs. 62
- The banker's discount on a bill due 6 months hence at 6% is Rs. 37.08. The true discount is ?
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T.D. = (B.D. X 100) / {100 + (R X T)}
Correct Option: D
T.D. = (B.D. X 100) / {100 + (R X T)}
= Rs. (37.08 x 100) / {100 + (6 x 1/2)}
= Rs. 36
- The banker's gain on a sum due 3 years hence at 5% is Rs. 90. The banker's discount is ?
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T.D. = (B.G. x 100) / (R x T)
Correct Option: A
T.D. = (B.G. x 100) / (R x T) = Rs. (90 x 100) / (5 x 3)
= Rs. 600
∴ B.D. = Rs. (600 +90) = Rs. 690
- The present worth of a certain due sometime hence is Rs. 1600 and the true discount is Rs. 160. The banker's gain is ?
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B.G. = (T.D.)2 / P.W.
Correct Option: B
B.G. = (T.D.)2 / P.W.
= Rs. (160 x 160) / 1600
= Rs. 16
- The banker's gain of a certain sum due 2 years hence at 5% per annum is Rs. 80. The present worth is ?
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T.D. = (B.G. X 100) / (Rate x Time)
Correct Option: A
T.D. = (B.G. X 100) / (Rate x Time)
= Rs. (80 x 100) / (5 x 2)
= Rs. 800
