A banker paid Rs. 5767.20 for a bill of Rs. 5840, drawn of April 4 at 6 months.

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Question
A banker paid Rs. 5767.20 for a bill of Rs. 5840, drawn of April 4 at 6 months. If the rate of interest was 7 %, what was the day on which the bill was discounted?
Options
A. 3rd March
B. 3rd September
C. 3rd October
D. 3rd August

Correct Answer

3rd August

Explanation

Banker's Discount problems

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1.
A bill is discounted at 10 % per annum. If banker's discount is allowed, at what rate % should the proceeds be invested so that nothing will be lost?
Options
A. 10 %
B. 11 1 % 9
C. 11 %
D. 9 1 % 9

2.
The banker's gain on a certain sum due 2.5 years hence is 9/25 times of the banker's discount. What is the rate percent?
Options
A. 18.13%
B. 18.12%
C. 24.13%
D. 22.22%

3.
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

4.
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

5.
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

6.
Shankara buys a watch for Rs. 1,950 in cash and sells it for Rs. 2,200 at a credit of 1 year. If the rate of interest is 10% per annum, he _____ :
Options
A. gains Rs. 55
B. gains Rs. 50
C. loses Rs. 30
D. gains Rs. 30

7.
A bill for Rs. 3000 is drawn on 14^th July at 5 months. It is discounted on 5^th October at 10 %. What is the Banker's Discount BD?
Options
A. Rs. 60
B. Rs. 82
C. Rs. 90
D. Rs. 120

8.
The banker's discount on Rs. 1600 at 15% per annum is the same as true discount on Rs. 1680 for the same time and at the same rate. What is the time?
Options
A. 3 months
B. 4 months
C. 5 months
D. 6 months

9.
The difference between Simple Interest and True Discount on a certain sum of money, paid by Mr Manohar, for 6 months at

12 1 % per annum is Rs. 25. Find the sum (Rs.).

2
Options
A. 6,800
B. 6,500
C. 6,000
D. 6,200

10.
Vivek Bhatia wants to sell his scooter. Before him, there are two offers (i) at Rs. 12,000 cash and (ii) at a credit of Rs. 12,880 to be paid after 8 months, money being at 18% per annum which is better offer?
Options
A. 12,800
B. 12,000
C. Both equal
D. Can't say

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