The present worth of a bill due sometime, hence is ₹ 2200 and true discount on the bill is ₹ 220. Find the banker's discount and banker's gain?

Correct Answer: BG = ₹ 22 and BD = ₹ 242

Explanation:

Given that, PW = ₹ 2200, TD = ₹ 220
According to the formula,
BG = (TD)²/PW = (220 x 220)/2200 = ₹ 22
BD = (TD + BG) = ₹(220 + 22) = ₹ 242

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