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

₹ 10
₹ 6
₹ 4
₹ 8

Correct Answer: ₹ 8

Explanation:

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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