The true discount at a bill of ₹ 7440 due 16 months, hence is ₹ 240. Find the banker's gain?

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Accepted Answer

Present worth of bill = ₹ (7440 - 240) = ₹ 7200 ∴ Banker's Gain (BG) = (TD)2/PW = (240 x 240) / 7200 = 576/72 = ₹ 8

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