The bankers discount and the true discount of a sum at 10% per annum simple interest for the same time are Rs.100 and Rs.80 respectively. What is the sum and the time?
Answer & Explanation
C) Sum = Rs.400 and Time = 2.5 years
BD = Rs.100
TD = Rs.80
R = 10%
BD = Simple interest on the face value of the bill for unexpired time= FTR/100
=> T = 2.5 years