A owes B $ 1350 due in 3 months and B owes A $ 1078 due 5 months. If they agrees

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Question
A owes B $ 1350 due in 3 months and B owes A $ 1078 due 5 months. If they agrees to settle their account right now at 5 % p.a, A should pay to B :
Options
A. $ 277 1 3
B. $ 288.25
C. $ 302
D. None of these

Correct Answer

$ 277 1 3

Explanation

Discount problems

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1.
A bill is discounted at 5 % per annum. If banker's discount be allowed, at what rate of interest must the proceeds be invested, so that nothing is lost?
Options
A. 5%
B. 4 19 % 20
C. 5 5 % 9
D. 10%

2.
The discount on $ 5229 due in 1 year 9 months reckoning compound interest at 5 % is :
Options
A. $ 429.00
B. $ 415.00
C. $ 393.25
D. None of these

3.
Find the present worth ( P.W.) and the true discount reckoning 6 % per annum simple interest of $ 176 due in 20 months time.
Options
A. $ 160, $ 16
B. $ 130, $ 46
C. $ 150, $ 26
D. None of these

4.
A bill which being due at the end of 4 years is now worth $ 575, but if it is due in 2 years 6 months, it would now be worth $ 620. The sum of the bill is :
Options
A. $ 695
B. $ 725
C. $ 713
D. None of these

5.
If the discount on a certain sum in 2 years at a certain rate is $ 150 and the interest in 3 years is $ 240. Find the sum and the rate of interest.
Options
A. $ 2400, 3 1 % 3
B. $ 2400, 4 1 % 3
C. $ 2200, 5 1 % 3
D. $ 2000, 3 1 % 3

7.
The banker's gain on a certain sum due in 2 years at 5 % per annum is $ 8. The present worth is :
Options
A. $ 800
B. $ 1600
C. $ 1200
D. $ 880

10.
What rate of interest does a man get for his money when in discounting a bill due in 10 months, he deducts 4 % of the amount of the bill?
Options
A. 5%
B. 6%
C. 8%
D. 4%

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