A banker discounts a 4 months bill at 3 %. If the proceeds be invested in a mann

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Question
A banker discounts a 4 months bill at 3 %. If the proceeds be invested in a manner, so that nothing is lost, the interest rate should be :
Options
A. 3%
B. 4%
C. 3 1 % 33
D. 3 1 % 36

Correct Answer

3 1 % 33

Explanation

Discount problems

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3.
The banker's gain on a certain sum of money is due for 9 months at 4 % p.a. is ?2.25. The sum is :
Options
A. ?2575
B. ?2500
C. ?2250
D. ?3250

4.
If the simple interest on a certain sum is due for some years at 6 % is ?180, and the discount at 5 % on the same amount is ?140. Find the sum and the time.
Options
A. ? 2100 and 1 3 Year 7
B. ? 2200 and 2 3 Year 7
C. ? 2000 and 2 3 Year 7
D. ? 2300 and 1 3 Year 7

6.
A man bought a motor-cycle for ?32500. He sold it for ?35000, allowing the buyer for a 6 months credit. If the money be worth 4 % per annum, the gain percent is :
Options
A. 8 1 % 7
B. 7 9 % 13
C. 7 5 % 13
D. 8 2 % 5

7.
At a given rate, the simple interest and the true discount on a certain sum, for a given time, are ?24 and ?22, respectively. The sum is :
Options
A. ?264
B. ?220
C. ?288
D. ?295

8.
The holder of a bill for ?17850 nominally due on May 21, 1991 received ?357 less than the amount of the bill by having it discounted at 5 %. When was it discounted?
Options
A. Dec 29, 1990
B. Dec 30, 1989
C. Dec 19, 1990
D. Dec 20, 1995

9.
If $ 10 be allowed as true discount on a bill of $ 110 due at the end of certain time, then the discount allowed on the same amount due at the end of double the time is :
Options
A. $ 20
B. $ 21.81
C. $ 22
D. $ 18.33

10.
If on a marked price, the difference of selling prices with a discount of 30 % and two successive discounts of 20 % and 10 % is ? 72, then the marked price (in ?) is
Options
A. ? 3600
B. ? 3000
C. ? 2500
D. ? 2400

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