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Find the banker's discount on a bill due 3 years hence at 5% being given that the banker's gain is Rs. 90?

Rs. 550
Rs. 650
Rs. 690
Rs. 600

Correct Answer: Rs. 690

Explanation:

T.D. = (90 x 100) / (3 x 5) = Rs. 600
∴ Banker's discount = True discount + Banker's gain
= Rs. 600 + Rs. 90
= Rs. 690

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