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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:

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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