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The banker's discount on a certain sum due 2 years hence is 11 of the true discount. 10 The rate percent is:

11%
10%
5%
5.5%

Correct Answer: 5%

Explanation:

Let T.D. be Re. 1.

Then, B.D. = Rs.	11	= Rs. 1.10.
	10

∴ Sum = Rs.	❨	1.10 x 1	❩	= Rs.	❨	110	❩	= Rs. 11.
		1.10 - 1				10

∴ S.I. on Rs. 11 for 2 years is Rs. 1.10

∴ Rate =	❨	100 x 1.10	❩%	= 5%.
		11 x 2

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