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The present worth of a certain due sometime hence is Rs. 1600 and the true discount is Rs. 160. The banker's gain is?

Rs. 10
Rs. 16
Rs. 20
Rs. 24

Correct Answer: Rs. 16

Explanation:

B.G. = (T.D.)² / P.W.
= Rs. (160 x 160) / 1600
= Rs. 16

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