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1. The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is: A. C. Rs. 400 Rs. 480 B. D. Rs. 360 Rs. 320

Answer & Explanation

Answer: Option A Explanation: B.D. x 100 100 + (R x T) 420 x 100 = Rs. 100 + 1 15 x 3

T.D. =

= Rs.

420 x 100 105

= Rs. 400. View Answer Workspace Report Discuss in Forum

2.

The banker's discount on Rs. 1600 at 15% per annum is the same as true discount on Rs. 1680 for the same time and at the same rate. The time is: A. C. 3 months 6 months B. D. 4 months 8 months

Answer & Explanation

Answer: Option B Explanation: S.I. on Rs. 1600 = T.D. on Rs. 1680. Rs. 1600 is the P.W. of Rs. 1680, i.e., Rs. 80 is on Rs. 1600 at 15%. 100 x 80 Time = 1600 x 15 1 = 3 year = 4 months.

year View Answer Workspace Report Discuss in Forum

3.

The banker's gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:

558 and the true discount on the same sum for 2 B. . 13% 15% Answer & Explanation Answer: Option C Explanation: B. for 2 years = Rs.D.D.W.I. 520 Rs. 600. D. Rs. 744 is S. 3100. C. D. 120.D. 10% 12% years is Rs. = = Rs. 100 x T.D. 2 558 x 3 x 2 B. on Rs. 960 Answer & Explanation Answer: Option C Explanation: B.A. = Rs. = Rs. P.T. for 2 years = Rs. 744 x 600 144 = Rs.G. 744 T. x T. = Rate x Time = Rs. 3100 for 2 years. = Rs.D = Rs. 600 B. 100 x 744 = 12% % View Answer Workspace Report Discuss in Forum 3100 x 2 Rate = . x 100 Rate x Time 24 x 100 10 x 2 100 x 120 10 x 2 T. 558. C. The banker's discount on a sum of money for 1 years is Rs. for years = Rs. Rs. B. Thus.D. Sum = B. View Answer Workspace Report Discuss in Forum 4. 600. The rate percent is: A.D.D. Rs. 600. 480 Rs.D.

60 72 x 60 12 = Rs. 60. = Rs. C. .)2 P. 16. 840 Rs. Rs. 760 Answer & Explanation Answer: Option C Explanation: B. The banker's gain is: A.D. = = Rs. 24 Rs.W. = Rs. Rs. 72 x 60 72 . B. 1020 B.D. Rs. The banker's discount is: A. 1600 and the true discount is Rs. Rs. 270. 750. 160 x 160 1600 B. 432 Rs. 12 Answer & Explanation Answer: Option C Explanation: (T. The banker's discount of a certain sum of money is Rs. = = Rs.D. D. C. = Rs. The sum due is: A. 360 Rs. D. 1080 Answer & Explanation Answer: Option A Explanation: B. Sum = B. 160. 72 and the true discount on the same sum for the same time is Rs. 540 B.(750 + 270) = Rs. 960 Rs. View Answer Workspace Report Discuss in Forum 7.T. View Answer Workspace Report Discuss in Forum 6.5.G. The banker's gain on a sum due 3 years hence at 12% per annum is Rs. x T.G. 1020. The certain worth of a certain sum due sometime hence is Rs. D.D. 360. 16 B. = Rs. View Answer Workspace Report Discuss in Forum . C. Rs. Rs. x 100 RxT 270 x 100 12 x 3 T.D. 20 Rs.D. = Rs.D.

D. 1 3 The banker's gain on a certain sum due 1 years hence is of the banker's 2 25 discount. The present worth of a certain bill due sometime hence is Rs. 9 % 11 1 C. 1. 6.62 Rs. + B.D. 36 Rs. Rs. 34.38 B.62) = Rs. View Answer Workspace Report Discuss in Forum 10. = = Rs.D. (36 + 1.G. = Rs. The true discount is: A. The rate percent is: A.G. The banker's gain on a bill due 1 year hence at 12% per annum is Rs. 36 x 36 800 B. = Rs. 38. Rs.62 View Answer Workspace Report Discuss in Forum 9.62 B. 37 Rs. 1 6 % 6 Answer & Explanation Answer: Option B . = = Rs. D.)2 P.8. 800 and the true discount is Rs. Rs. D.W. 36. 1 5 % 5 1 8 % 8 B.) = Rs. 54 B. 37. = (T. The banker's discount is: A. Rs. x 100 RxT 6 x 100 12 x 1 T. 50 Answer & Explanation Answer: Option D Explanation: B. 50. C.G. 72 Rs. C. 37.D.98 Answer & Explanation Answer: Option B Explanation: (T.D.

View Answer Workspace Report Discuss in Forum 12. 60 Rs. = 576 x 16 = 96. 1. 540 is Rs. 576 and the banker's gain is Rs. 25 T.25 22 = Re.W. 25. = Re. 36 Rs.G. 1.G.D. 22 = Rs. The present worth of a sum due sometime hence is Rs. 110 B.W. 1 for 1 years is Re. 48 B. = P.D. 108.I.I. . Rs. 450 = Rs. 450. The true discount on a bill of Rs. on Rs.D. B. 3 . 90. = Rs. .D = Re. 540 = Rs. The banker's discount is: A. 3 Then. x B. 108 Rs. 3 2 100 x 1 100 1 22 3 Rate = = = 9 %. . D. on Rs.B. Sum = 1 x (22/25) 1-(22/25) 22 3 1 . Rs. C. C.) = Re. 16. x 11 11 3 2 % View Answer Workspace Report Discuss in Forum S. = Rs.90) = Rs.Explanation: Let. 90 450 x 540 S. B. D. on Rs. 112 Answer & Explanation Answer: Option B Explanation: P. Rs. Rs.G.I. S. (540 . 96 Answer & Explanation Answer: Option D Explanation: T. The true discount is: A. 90. 11. 72 Rs. = (B.

View Answer Workspace Report Discuss in Forum 13. known as legally due date. 11 Then.10 100 x 1. The banker's discount on a certain sum due 2 years hence is 11 10 of the true discount.D. 1. say Rs. 1. = Rs. 10% 5.I. Rs.5% Answer & Explanation Answer: Option C Explanation: Let T.e. D.D. be Re. 10.. Then.B. % IMPORTANT CONCEPTS Banker's Discount: Suppose a merchant A buys goods worth. on Rs.10 Rate = 11 x 2 = 5%.10. called the bill of exchange. 1. who deducts S.). This amount is know as Banker's Discount (B. is the S. 10 1.000 in this case) for the period from the date on which the bill was discounted (i. C. = Rs.D.I. Then he can have the money from the banker or a broker. 11% 5% B. S. B. Thus.I. on the face vale (i. B.D. The rate percent is: A. Suppose B wants to have the money before the legally due date. 10.10 . 1.1 110 10 = Rs.. A signs this bill and allows B to withdraw the amount from his bank account after exactly 5 months. = Rs. Sum = Rs. B prepares a bill. Three days (known as grace days) are added to it get a date. on the face value for the period from the date on which the bill was discounted and the legally due date. 108. The date exactly after 5 months is called nominally due date. paid by the banker) and the legally due date.D.e.10 x 1 = Rs. 11 for 2 years is Rs. 11.000 from another merchant B at a credit of say 5 months. .

P.(T.W. .I.T. = Amount = T. 7. x 100 Rate x Time 4. 2.W.G.D. 5. = 3.D.) = S. 6.Banker's Gain (B. = S.D. B. x T. = .G. = T.) = (B.D.G.D. B. Note: When the date of the bill is not given.(T.I.D.D. (T. B.D. B.D. Amount x Rate x Time 100 Amount x Rate x Time 100 + (Rate x Time) B.G. on bill for unexpired time.) .D. grace days are not to be added. IMPORTANT FORMULAE 1.D.)2 P. on T. T.) for the unexpired time. x B.D.) .D. = (B.D. B.D.

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