Home » Aptitude » Banker's Discount

The banker's discount on a sum of money for 1½ years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

Correct Answer: 12%

Explanation:


B.D. for 3⁄2 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


← Previous Question Next Question→

Discussion & Comments

No comments yet. Be the first to comment!
Join Discussion