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- Question
- The holder of a bill for Rs. 17850 nominally due on 21st May, 1991 received Rs. 357 less than the amount of the bill by having it discounted at 5%. When was it discounted?
Options- A. December 29, 1990
- B. December 30, 1989
- C. December 19, 1990
- D. None of these
- Correct Answer
- December 29, 1990
ExplanationClearly S.I. on Rs. 17850 at 5% is Rs. 357.
? Time = (100 x 357) / (17850 x 5) = 2/5 = 146 days
So, the bill is 146 days prior to 24th May, the legally due date
May, April, March, Feb., Jan.,Dec.,
= 24 + 30 + 31 + 28 + 31 + 2 = 146 days
So, the bill was discounted on 29 Dec. 1990. - 1. The present worth of a certain bill due sometime hence is Rs. 1600 and true discount on the bill is Rs. 160. Find the banker's discount and the extra gain the gain banker would make in the transaction?
Options- A. Rs. 176, Rs. 18
- B. Rs. 186, Rs. 16
- C. Rs. 176, Rs. 16
- D. None of these Discuss
- 2. The present worth of Rs. 702 due in two equal half-yearly installments at 8% per annum calculated at simple interest is Rs.
Options- A. 600
- B. 1,500
- C. 1,325
- D. 1,000 Discuss
- 3. Find the present worth of Rs. 9300, due 3 years hence at 8% per annum. Also find the discount?
Options- A. 1,860
- B. 1,800
- C. 1,850
- D. 1,890 Discuss
- 4. The true discount on Rs. 2,562 due 4 months hence is Rs. 122. The rate percent is?
Options- A. 12
- B. 13
- C. 15
- D. 14 Discuss
- 5. The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 360. The banker's discount is:
Options- A. Rs. 1360
- B. Rs. 1000
- C. Rs. 360
- D. Rs. 640 Discuss
- 6. A bill is discounted at 5% per annum. If banker's discount be allowed, at what rate per cent must the proceeds be invested, so that nothing may be lost?
Options- A. 5%
- B. 419/21%
- C. 55/19%
- D. 10% Discuss
- 7. A bill for ? 10200 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. ? 204 , ? 200, ? 4 and ? 9996
- B. ? 100 , ? 200, ? 2 and ? 4989
- C. ? 121 , ? 172, ? 132 and ? 4046
- D. None of these Discuss
- 8. The banker's discount on a certain sum due 4 yr, hence is 11/10 of the true discount. Find the rate per cent per annum.
Options- A. 2.5%
- B. 5%
- C. 5.5%
- D. 1.5% Discuss
- 9. 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 extra gain the banker would make in the transaction?
Options- A. Rs. 11, Rs. 121
- B. Rs. 21, Rs. 131
- C. Rs. 12, Rs. 122
- D. None of these Discuss
- 10. The banker's discount on a certain amount due 2 years hence is 11/10 of the true discount. What is the rate percent?
Options- A. 1%
- B. 5%
- C. 10%
- D. 12% Discuss
Banker's Discount problems
Search Results
Correct Answer: Rs. 176, Rs. 16
Explanation:
160 = ?1600 x B.G.
? B.G. = (160 x 160)/1600 = Rs. 16
? Banker's discount = 160 + 16 = Rs. 176
[? B.D. = T.D. + B.G.]
Correct Answer: 1,325
Explanation:
According to question ,
Required Sum = PW of Rs. 702 due 6 months hence + PW of Rs. 702 due 1 year hence = Rs. 1325
Thus , required sum is Rs. 1325 .
Correct Answer: 1,800
Explanation:
Correct Answer: 15
Explanation:
Correct Answer: Rs. 1360
Explanation:
Correct Answer: 55/19%
Explanation:
Let the sum be Rs. 100. Then, B.D = Rs. 5.
Proceeds = Rs. (100 - 5) = Rs. 95.
? Rs. 5 must be the interest on Rs. 95 for 1 year.
So, rate = (100 x 5) / (95 x 1) = 55/19%
Correct Answer: ? 204 , ? 200, ? 4 and ? 9996
Explanation:
Face value of the bill = ? 10200
Date on which the bill was drawn = July 14 at 5 Months
Nominally due date = Dec. 14
Legally due date = Dec. 17
Date on which the bill was discounted = Oct. 05
Unexpired time
Oct.-26, Nov. - 30, Dec - 17 = 73 days = 73/365 yr = 1/5 yr
? BD = SI on ? 10200 for 1/5 yr
= (10200 x (10/100) x 1/5)
= ? 204
TD = [10200 x (1/5) x 10] / [100 + 10 x (1/5)]
= (10200 x 2)/102 = ? 200
BG = (BD) - (TD) = (204 - 200) = ? 4
Money received by the holder of the bill = ? (10200 - 204) = ? 9996
Correct Answer: 2.5%
Explanation:
Let TD = N, then BD = 11N/10
Sum = (BD x TD) / (BD - TD) = [(11N/10) x N] / [11N/10 - N]
= [11N2/10] / [N/10] = 11N
SI on ? 11N for 4 yr is ? 11N/10.
? Rate = (100 x 11N/10)/(11N x 4)% per annum
= 2.5% per annum
Correct Answer: Rs. 11, Rs. 121
Explanation:
T.D. = ?P.W. x B.G.
or B.G. = (T.D.)2/P.W. = (110 X 110) / 1100 = Rs. 11
? B.D. = B.G. + T.D. = Rs. (11 + 110) = Rs. 121
Correct Answer: 5%
Explanation:
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