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Banker's Discount

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  1. The true discount at a bill of ₹ 7440 due 16 months, hence is ₹ 240. Find the banker's gain ?
    1. ₹ 10
    2. ₹ 6
    3. ₹ 4
    4. ₹ 8
Correct Option: D

Present worth of bill = ₹ (7440 - 240) = ₹ 7200
∴ Banker's Gain (BG) = (TD)2/PW
= (240 x 240) / 7200
= 576/72
= ₹ 8


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