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The present worth of a certain bill due sometime hence is Rs. 800 and the true discount is Rs. 36. Then the banker's discount is?

Rs. 37
Rs. 34.38
Rs. 37.62
Rs. 38.98

Correct Answer: Rs. 37.62

Explanation:

B.G. = (T.D.)² / P.W. = Rs. (36 x 36) / 800 = Rs. 1.62
∴ B.D. = (T.D.) + (B.G.) = Rs. (36 + 1.62)
= Rs. (37.62)

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