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Q:

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?

A) Sum = Rs.400 and Time = 5 years	B) Sum = Rs.200 and Time = 2.5 years
C) Sum = Rs.400 and Time = 2.5 years	D) Sum = Rs.200 and Time = 5 years

Answer & Explanation Answer: C) Sum = Rs.400 and Time = 2.5 years

Explanation:

BD = Rs.100

TD = Rs.80

R = 10%

$F = \frac{B D \times T D}{B D - T D} = \frac{100 \times 80}{100 - 80} = R s . 400$

BD = Simple interest on the face value of the bill for unexpired time= FTR/100

$\Rightarrow 100 = \frac{400 \times T \times 10}{100}$

=> T = 2.5 years

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Filed Under: Banker's Discount

Q:

If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?

A) 8 months	B) 11 months
C) 10 months	D) 9 months

Answer & Explanation Answer: D) 9 months

Explanation:

F = Rs. 498

TD = Rs. 18

PW = F - TD = 498 - 18 = Rs. 480

R = 5%

$T D = \frac{P W \times T R}{100}$

$\Rightarrow 18 = \frac{480 \times T \times 5}{100}$

=> T = 3/4 years = 9 months

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Filed Under: Banker's Discount

Q:

What is the difference between the banker's discount and the true discount on Rs.8100 for 3 months at 5%

A) Rs. 2	B) Rs. 1.25
C) Rs. 2.25	D) Rs. 0.5

Answer & Explanation Answer: B) Rs. 1.25

Explanation:

F = Rs. 8100

R = 5%

T = 3 months = 1/4 years

$B D = \frac{F T R}{100} = \frac{8100 \times \frac{1}{4} \times 5}{100} = R s . 101.25$

$T D = \frac{F T R}{100 + T R} = \frac{8100 \times \frac{1}{4} \times 5}{100 + (\frac{1}{4} \times 5)} = R s . 100$

Therefore BD - TD = 101.25-100 = Rs.1.25

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Filed Under: Banker's Discount

Q:

The banker's discount on a bill due 6 months hence at 6% is Rs. 18.54. What is the true discount?

A) Rs. 24	B) Rs. 12
C) Rs. 36	D) Rs. 18

Answer & Explanation Answer: D) Rs. 18

Explanation:

T= 6 months = 1/2 year

R = 6%

 $T D = \frac{B D \times 100}{100 + T R} = \frac{18.54 \times 100}{100 + (\frac{1}{2} \times 6)} = R s . 18$

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Filed Under: Banker's Discount

Q:

The B.G. on a certain sum 4 years hence at 5% is Rs. 200. What is the present worth?

A) Rs. 4500	B) Rs. 6000
C) Rs. 5000	D) Rs. 4000

Answer & Explanation Answer: C) Rs. 5000

Explanation:

T = 4 years

R = 5%

Banker's Gain, BG = Rs.200

$T D = \frac{B G \times 100}{T R} = \frac{200 \times 100}{4 \times 5} = R s . 1000$

$T D = \sqrt{P W \times B G}$

$\Rightarrow 1000 = \sqrt{P W \times 200}$

=>PW = Rs.5000

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Filed Under: Banker's Discount

Q:

What is the present worth of a bill of Rs.1764 due 2 years hence at 5% compound interest is

A) Rs. 1600	B) Rs. 1200
C) Rs. 1800	D) Rs. 1400

Answer & Explanation Answer: A) Rs. 1600

Explanation:

Since the compound interest is taken here,

$P W {(1 + \frac{5}{100})}^{2} = 1764$

=> PW = 1600

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Filed Under: Banker's Discount

Q:

The true discount on a bill of Rs. 2160 is Rs. 360. What is the banker's discount?

A) Rs. 432	B) Rs. 422
C) Rs. 412	D) Rs. 442

Answer & Explanation Answer: A) Rs. 432

Explanation:

F = Rs. 2160

TD = Rs. 360

PW = F - TD = 2160 - 360 = Rs. 1800

True Discount is the Simple Interest on the present value for unexpired time

=>Simple Interest on Rs. 1800 for unexpired time = Rs. 360

Banker's Discount is the Simple Interest on the face value of the bill for unexpired time

= Simple Interest on Rs. 2160 for unexpired time

=(360/1800)* 2160

= (1/5) * 2160

=Rs. 432

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Filed Under: Banker's Discount

Q:

Bhajan Singh purchased 120 reams of paper at Rs 80 per ream. He spent Rs 280 on transportation, paid octroi at the rate of 40 paise per ream and paid Rs 72 to the coolie. If he wants to have a gain of 8 %, what must be the selling price per ream?

A) 90	B) 89
C) 87.48	D) 86

Answer & Explanation Answer: A) 90

Explanation:

Total investment = Rs. (120 * 80 + 280 + (40/100) * 120 + 72).
= Rs. (9600 + 280+48 + 72) = Rs, 10000.
Sell price of 120 reams = 108% of Rs. 10000 = Rs. 10800.
Sell Price per ream = Rs. [10800/120] = Rs. 90.

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Filed Under: Profit and Loss

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