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Banker's Discount
The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:
Rs. 960
Rs. 840
Rs. 1020
Rs. 760
Correct Answer:
Rs. 1020
Explanation:
T.D. =
❨
B.G. x 100
❩
= Rs.
❨
270 x 100
❩
= Rs. 750.
R x T
12 x 3
∴ B.D. = Rs.(750 + 270) = Rs. 1020.
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