Banker's Discount Questions

Q:

The bankers gain of a certain sum due 2 years hence at 10% per annum is Rs 24 .The percent worth is

A) 400 B) 800
C) 500 D) 600
 
Answer & Explanation Answer: D) 600

Explanation:

T.D = (B.G * 100) / (Rate * Time)

(24*100) / (10 * 2)

= 120.

 

P.W = (100 *T.D) / (Rate * Time)

= (100 * 120) /(10 * 2)

= 600

Report Error

View Answer Workspace Report Error Discuss

6 1488
Q:

The banker's discount on Rs. 1650 due a certain time hence is Rs. 165. Find the true discount and the banker's gain.

A) 15 B) 20
C) 18 D) 13
 
Answer & Explanation Answer: A) 15

Explanation:

   Sum = [(B.D.xT.D.)/ (B.D.-T.D.)]

              = [(B.D.xT.D.)/B.G.]

T.D./B.G.  = Sum/ B.D.

   =1650/165

               =10

Thus, if B.G. is Re 1, T.D. = Rs. 10.

If B.D.is Rs. ll, T.D.=Rs. 10.

If B.D. is Rs. 165, T.D. = Rs. [(10/11)xl65]

            =Rs.150

 And, B.G. = Rs. (165 - 150) = Rs, 15.

Report Error

View Answer Workspace Report Error Discuss

3 1294
Q:

The banker's discount on Rs. 1800 at 12% per annum is equal to the true discount on Rs. 1872 for the same time at the same rate. Find the time.

A) 7 months B) 6 months
C) 3 months D) 4 months
 
Answer & Explanation Answer: D) 4 months

Explanation:

S.I. on Rs. 1800 = T.D. on Rs. 1872.

P.W. of Rs. 1872 is Rs. 1800.

Rs. 72 is S.I. on Rs. 1800 at 12%.

Time =[(100 x 72)/ (12x1800)]year

        =1/3year = 4 months.

Report Error

View Answer Workspace Report Error Discuss

1 1159
Q:

The banker's discount of a certain sum of money is Rs. 72 and the true discount on the

same sum for the same time is Rs. 60. The sum due is:

A) 290 B) 480
C) 360 D) 420
 
Answer & Explanation Answer: C) 360

Explanation:

Sum =(B.D. x T.D.)/(B.D. - T.D.)

       = Rs. (72 x 60) / (72 - 60)

       = Rs. (72 x 60) /12

       = Rs. 360.

Report Error

View Answer Workspace Report Error Discuss

0 1093
Q:

A bill for Rs. 6000 is drawn on July 14 at 5 months. It is discounted on 5th October at 10%. Find the banker's discount, true discount, banker's gain and the money that the holder of the bill receives.

A) 4390 B) 6580
C) 5880 D) 5350
 
Answer & Explanation Answer: C) 5880

Explanation:

Face value of the bill = Rs. 6000.

Date on which the bill was drawn = July 14 at 5 months. Nominally due date =                  December 14.

Legally due date = December 17.

Date on which the bill was discounted = October 5.

Unexpired time  : Oct.               Nov.                Dec.

                                 26  +               30  +              17     = 73 days  =1/ 5Years

 

 B.D. = S.I. on Rs. 6000 for 1/5 year

= Rs.   (6000 x 10 x1/5 x1/100)= Rs. 120.

T.D. = Rs.[(6000 x 10 x1/5)/(100+(10*1/5))]

            =Rs.(12000/102)=Rs. 117.64.

B.G. = (B.D.) - (T.D.) = Rs. (120 - 117.64) = Rs. 2.36.

Money received by the holder of the bill = Rs. (6000 - 120) = Rs. 5880.

Report Error

View Answer Workspace Report Error Discuss

2 910