Banker's Discount - General Questions (2)

The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:

A.	Rs. 960
B.	Rs. 840
C.	Rs. 1020
D.	Rs. 760

Answer: Option C

Explanation:

T.D. =		B.G. x 100		= Rs.		270 x 100		= Rs. 750.
		R x T				12 x 3

B.D. = Rs.(750 + 270) = Rs. 1020.

10.

The banker's discount on a sum of money for 1 1-div-1by2 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

A.	10%
B.	13%
C.	12%
D.	15%

Answer: Option C

Explanation:

B.D. for

years

= Rs. 558.

B.D. for 2 years

= Rs.		558 x	2	x 2
			3

= Rs. 744

T.D. for 2 years = Rs. 600.

Sum =	B.D. x T.D.	= Rs.		744 x 600		= Rs. 3100.
	B.D. - T.D			144

Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.

Rate =		100 x 744	%	= 12%
		3100 x 2

11.

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

A.	Rs. 480
B.	Rs. 520
C.	Rs. 600
D.	Rs. 960

Answer: Option C

Explanation:

T.D. =		B.G. x 100		= Rs.		24 x 100		= Rs. 120.
		Rate x Time				10 x 2

P.W. =	100 x T.D.	= Rs.		100 x 120		= Rs. 600.
	Rate x Time			10 x 2

12.

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.	3 months
B.	4 months
C.	6 months
D.	8 months

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%.

Time =		100 x 80	year	=	1	year = 4 months.
		1600 x 15			3

13.

The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:

A.	Rs. 400
B.	Rs. 360
C.	Rs. 480
D.	Rs. 320

Answer: Option A

Explanation:

T.D.

=	B.D. x 100
	100 + (R x T)

= Rs.

420 x 100

100 +		15 x	1
			3

= Rs.		420 x 100
		105

= Rs. 400.

Banker's Discount - General Questions (2)

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