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Banker's Discount
The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:
Rs. 400
Rs. 360
Rs. 480
Rs. 320
Correct Answer:
Rs. 400
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.
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