A bill for Rs. 3000 is drawn on 14th July at 5 months. It

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A bill for Rs. 3000 is drawn on 14^th July at 5 months. It is discounted on 5^th October at 10 %. What is the Banker’s Discount BD?

1. Rs. 60
2. Rs. 82
3. Rs. 90
4. Rs. 120

Correct Option: A

As per the given all information in above question , we have
Date on which the bill is drawn = 14th July at 5 months i.e., Nominally Due Date = 14th December
Legally Due Date = 14th December + 3 days = 17th December
Date on which the bill is discounted = 5th October

⇒ Unexpired Time = 73 Days =	1	year
	5

Banker's Discount = Simple Interest on the face value of the bill for unexpired time

Banker's Discount =	FTR
	100

Here , F = 3000 , T = 1 / 5 year , Rate = 10%

Banker's Discount =3000 ×	1	x	10	= Rs. 60
	5		100