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- Question
- 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%
- Correct Answer
- 2.5%
ExplanationLet 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 - 1. 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
- 2. 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
- 3. 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 Discuss
- 4. 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
- 5. 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
- 6. 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
- 7. 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
- 8. What is the banker's discount if the true discount on a bill of Rs. 540 is Rs. 90?
Options- A. Rs. 108
- B. Rs. 120
- C. Rs. 102
- D. Rs. 106 Discuss
- 9. The present worth of a certain bill due sometime hence is Rs. 1296 and the true discount is Rs. 72. What is the banker's discount?
Options- A. Rs. 76
- B. Rs. 72
- C. Rs. 74
- D. Rs. 4 Discuss
- 10. The banker's gain of a certain sum due 3 years hence at 10 % per annum is Rs. 36. What is the present worth (PW)?
Options- A. Rs. 400
- B. Rs. 300
- C. Rs. 500
- D. Rs. 350 Discuss
Banker's Discount problems
Search Results
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: 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: December 29, 1990
Explanation:
Clearly 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.
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: 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:
Correct Answer: Rs. 108
Explanation:
As per given question,
Face Value F = 450,
True discount = 90
As we know the formula,
Present Worth, PW = Face Value ? True Discount
Present Worth, PW = F ? TD = 540 ? 90 = Rs. 450
Hence Simple Interest on 450 = 90 ? ? ? ? ? ? ? ? ? ? ( 1 )
Simple Interest on the face value = Bankers Discount
? Simple Interest on 540
Hence, Simple Interest on 540 = 90/450 × 540 = Rs. 108 = Bankers Discount
Correct Answer: Rs. 76
Explanation:
Correct Answer: Rs. 400
Explanation:
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