The true discount on a bill 24 months, hence at 24% per annum, is ₹ 144. What will be the banker's discount?

₹ 213.12
₹ 415
₹ 515.12
₹ 616

Correct Answer: ₹ 616

Explanation:

Given that, R = 24%, T = 24 months= 2 yr and TD = ₹ 144
BD = TD + BG
According to the formula,
BG = (TD x R x T)/100 = (144 x 24 x 2)/100
= ₹ 69.12
∴ BD = 144 + 69.12 = ₹ 213.12

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