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Banker's Discount

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  1. The banker's gain on a bill due 1 year 4 months hence at 71/2% per annum simple interest is Rs. 16. Find the sum ?
    1. Rs. 1760
    2. Rs. 1560
    3. Rs. 1660
    4. Rs. 1860
Correct Option: A

T.D = (16 x 100)/ (4/3 x 15/2) = Rs. 160
B.D. = Rs. 160 + Rs. 16 = Rs. 176
∴ Sum = [176 x 100] / [(4/3) x (15/2)] = Rs. 1760


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