The banker's gain on a bill due 1 year 4 months hence at 7 1/ 2% per annum simple interest is Rs. 16. Find the sum?

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Accepted Answer

T.D = (16 x 100)/ (4/3 x 15/2) = Rs. 160 B.D. = Rs. 160 + Rs. 16 = Rs. 176 ∴ Sum = [176 x 100] / [(4/3) x (15/2)] = Rs. 1760

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