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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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