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  • Question

  • A bill for Rs. 6000 is drawn on July 14 at 5 months. It is discounted on 5th October at 10%. Find the banker's discount, true discount, banker's gain and the money that the holder of the bill receives.


  • Options
  • A. 4390
  • B. 6580
  • C. 5880
  • D. 5350

  • Correct Answer
  • 5880 

    Explanation

    Face value of the bill = Rs. 6000.

    Date on which the bill was drawn = July 14 at 5 months. Nominally due date =                  December 14.

    Legally due date = December 17.

    Date on which the bill was discounted = October 5.

    Unexpired time  : Oct.               Nov.                Dec.

                                     26  +               30  +              17     = 73 days  =1/ 5Years

     

     B.D. = S.I. on Rs. 6000 for 1/5 year

    = Rs.   (6000 x 10 x1/5 x1/100)= Rs. 120.

    T.D. = Rs.[(6000 x 10 x1/5)/(100+(10*1/5))]

                =Rs.(12000/102)=Rs. 117.64.

    B.G. = (B.D.) - (T.D.) = Rs. (120 - 117.64) = Rs. 2.36.

    Money received by the holder of the bill = Rs. (6000 - 120) = Rs. 5880.

    • Banker's Discount problems

    Search Results

    • 1. The bankers discount and the true discount of a sum at 10% per annum simple interest for the same time are Rs.100 and Rs.80 respectively. What is the sum and the time?

    • Options
    • A. Sum = Rs.400 and Time = 5 years
    • B. Sum = Rs.200 and Time = 2.5 years
    • C. Sum = Rs.400 and Time = 2.5 years
    • D. Sum = Rs.200 and Time = 5 years
      • Discuss
    • 2. The B.G. on a certain sum 4 years hence at 5% is Rs. 200. What is the present worth?

    • Options
    • A. Rs. 4500
    • B. Rs. 6000
    • C. Rs. 5000
    • D. Rs. 4000
      • Discuss
    • 3. The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:

    • Options
    • A. 1315
    • B. 1150
    • C. 1020
    • D. 980
      • Discuss
    • 4. The true discount on a bill of Rs. 540 is Rs. 90. The banker's discount is:

    • Options
    • A. 108
    • B. 115
    • C. 100
    • D. 120
      • Discuss
    • 5. The banker's gain on a bill due 1 year hence at 12% per annum is Rs. 6. The true discount is:

    • Options
    • A. 62
    • B. 58
    • C. 47
    • D. 50
      • Discuss
    • 6. The bankers discount and true discount on a sum of money due 8 months hence are Rs.120 & Rs.110 resp. Find the sum.

    • Options
    • A. 1457
    • B. 1320
    • C. 1140
    • D. 1260
      • Discuss
    • 7. If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?

    • Options
    • A. 8 months
    • B. 11 months
    • C. 10 months
    • D. 9 months
      • Discuss
    • 8. The present worth of a bill due sometime hence is Rs. 1100 and the true discount on the bill is Rs. 110. Find the banker's discount and the banker's gain.

    • Options
    • A. Rs.145
    • B. Rs.136
    • C. Rs.121
    • D. Rs.112
      • Discuss
    • 9. If the true discount on a certain sum due 6 months hence at 15% is Rs 120.What is the bankers discount on the same for same time and the same rate.

    • Options
    • A. Rs.109
    • B. Rs.119
    • C. Rs.129
    • D. Rs.139
      • Discuss
    • 10. The banker's discount on a bill due 6 months hence at 6% is Rs. 18.54. What is the true discount?

    • Options
    • A. Rs. 24
    • B. Rs. 12
    • C. Rs. 36
    • D. Rs. 18
      • Discuss

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