Banker's Discount
- Vivek Bhatia wants to sell his scooter. Before him, there are two offers (i) at Rs. 12,000 cash and (ii) at a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum which is better offer?
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Given in the question ,
PW of Rs. 12,880 due 8 months hence = Rs. 11500; Clearly 12000 in cash is a better offer.Correct Option: B
Given in the question ,
PW of Rs. 12,880 due 8 months hence = Rs. 11500; Clearly 12000 in cash is a better offer.
- If Rs. 40 be allowed as true discount on a bill of Rs. 440 at the end of a certain time, then the discount allowed on the same sum due at the end of double the time is Rs. ?
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As we know that ,
Present worth = Amount − True Discount = 110 − 10 = Rs. 100
SI on Rs. 100 for a certain time = Rs. 10
SI on Rs. 100 for double the time = Rs. 20
True Discount on Rs. 120 = 120 − 100 = Rs. 20Correct Option: C
As we know that ,
Present worth = Amount − True Discount = 110 − 10 = Rs. 100
SI on Rs. 100 for a certain time = Rs. 10
SI on Rs. 100 for double the time = Rs. 20
True Discount on Rs. 120 = 120 − 100 = Rs. 20
True Discount on Rs. 1 = 20/120
True Discount on Rs. 440 = 20 x 440/120 = 20 x 44/12 = 20 x 22 / 6 = 440 /6 = 73.2
- The banker’s discount on a sum of money for 3 years is Rs. 1116. The true discount on the same sum for 4 years is Rs. 1200. What is the rate percent?
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As per the given question ,
BD for 3 years = Rs. 1116BD for 4 years = 1116 × 4 = Rs. 1488 3
TD for 4 years = Rs. 1200F = Banker's Discount × True Discount Banker's Discount - True Discount F = 1488 × 1200 ( 1488 – 1200 ) F = 1488 × 1200 288 F = 1488 × 1200 24
F = 62 × 100
F = Rs. 6200
⇒ Rs.1488 is the simple interest on Rs. 6200 for 4 years⇒ 1488 = 6200 × 4 × R 100 ⇒ R = 1488 × 100 6200 × 4 Correct Option: D
As per the given question ,
BD for 3 years = Rs. 1116BD for 4 years = 1116 × 4 = Rs. 1488 3
TD for 4 years = Rs. 1200F = Banker's Discount × True Discount Banker's Discount - True Discount F = 1488 × 1200 ( 1488 – 1200 ) F = 1488 × 1200 288 F = 1488 × 1200 24
F = 62 × 100
F = Rs. 6200
⇒ Rs.1488 is the simple interest on Rs. 6200 for 4 years⇒ 1488 = 6200 × 4 × R 100 ⇒ R = 1488 × 100 6200 × 4 ⇒ R = 372 × 100 6200 ⇒ R = 372 = 6% 62
Hence , Rate percent is 6% .
- Mr Jaspal purchased a cow for Rs. 3,000 and sold it to Mr Dharampal, on the same day, for Rs. 3,600, allowing Dharampal a credit of 2 years. If the rate of interest be 10% per annum, then the Jaspal has a gain of:
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On the basis of above given question ,
Selling Price = Rs. 3600 x 100 = Rs. 3000; Gain = 0% 100 + ( 10 x 2 ) Correct Option: A
On the basis of above given question ,
Selling Price = Rs. 3600 x 100 = Rs. 3000; Gain = 0% 100 + ( 10 x 2 )
Thus , the Jaspal has a gain of 0% or Nil .
- The profit earned by Mrs Malhotra in selling an article for Rs. 900 is double the loss incurred by her when the same article is sold for Rs. 490. At what price (Rs.) should the article be sold to make 25% profit?
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Let Cost Price be Rs. C ; 900 − C = 2(C − 450)
⇒ C = Rs. 600
Cost Price = 600 gain required is 25%;Correct Option: D
Let Cost Price be Rs. C ; 900 − C = 2(C − 450)
⇒ C = Rs. 600
Cost Price = 600 gain required is 25%;
According to question ,Selling Price = [(100 + 25) x 600] = Rs. 750 100
