The banker’s gain on a sum due 6 years hence at 12% per

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The banker’s gain on a sum due 6 years hence at 12% per

Home » Aptitude » Banker's Discount » Question

The banker’s gain on a sum due 6 years hence at 12% per annum is Rs. 540. What is the banker’s discount?

1. 1240
2. 1120
3. 1190
4. 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 .