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The banker’s gain on a certain sum due 2.5 years hence is 9/25 times of the banker’s discount. What is the rate percent?
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- 18.13%
- 18.12%
- 24.13%
- 22.22%
Correct Option: D
Let the banker’s discount, BD = Rs. 1
| Then, banker’s gain, BG = | × 1 = Rs. | ||
| 25 | 25 |
BG = BD − TD
| ⇒ | = 1 − TD | |
| 25 |
| ⇒ TD = 1 − | = | ||
| 25 | 25 |
| F = BD × | ||
| BD − TD |
| = 1 × | |
| 25 | |
| 1 − | |
| 25 | |
| = | |
| 25 | |
| 25 | |
| = Rs. | |
| 9 |
BD = Simple Interest on the face value of the bill for unexpired time
| = | |
| 100 |
| ⇒ 1 = | x | x | |||
| 9 | 2 | 100 |
| ⇒ R = 100 × | = 22 | % | ||
| 40 | 2 |
