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Q:

The banker's discount on a certain sum due 2 years hence is11/10of the true discount.

The rate percent is:

A) 10% B) 7%
C) 8% D) 5%

Answer:   D) 5%



Explanation:

Let T.D. be Re. 1.

Then, B.D. = Rs.11/10= Rs. 1.10.

Sum = Rs. (1.10*1)/(1.10-1) = Rs. (110/10)= Rs. 11.

S.I. on Rs. 11 for 2 years is Rs. 1.10

Rate = [(100 x 1.10)/(11 x 2 )]% = 5%.

Subject: Banker's Discount
Related Questions
Q:

If the true discount on a certain sum due 6 months hence at 15% is Rs. 120, what is the banker's discount on the same sum for the same time and at the same rate?

A) 50 B) 129
C) 100 D) 160
 
Answer & Explanation Answer: B) 129

Explanation:

B.G. = S.I. on T.D.

          = Rs.(120 x 15 x 1/2 x 1/100)

  = Rs. 9.

(B.D.) - (T.D.) = Rs. 9.

 

B.D. = Rs. (120 + 9) = Rs. 129.

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