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The banker’s gain on a sum due 6 years hence at 12% per annum is Rs. 540. What is the banker’s discount?
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- 1240
- 1120
- 1190
- 1290
Correct Option: D
According to question ,
| True Discount = | Banker's Gain × 100 | |
| Time x Rate |
| True Discount = | 540 × 100 | |
| 6 × 12 |
| True Discount = | 90 × 100 | |
| 12 |
| True Discount = | 15 × 100 | |
| 2 |
True Discount = Rs. 750
∴ Banker's Gain = Banker's Discount – True Discount
⇒ 540 = Banker's Discount - 750
⇒ Banker's Discount = 540 + 750 = 1290
Hence , Banker's Discount is Rs 1290 .
