Banker's Discount problems
- 1. The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:
Options- A. Rs. 960
- B. Rs. 840
- C. Rs. 1020
- D. Rs. 760 Discuss
Correct Answer: Rs. 1020
Explanation:
| T.D. = | ❨ | B.G. x 100 | ❩ | = Rs. | ❨ | 270 x 100 | ❩ | = Rs. 750. |
| R x T | 12 x 3 |
∴ B.D. = Rs.(750 + 270) = Rs. 1020.
- 2. The true discount on a bill of Rs. 540 is Rs. 90. The banker's discount is:
Options- A. Rs. 60
- B. Rs. 108
- C. Rs. 110
- D. Rs. 112 Discuss
Correct Answer: Rs. 108
Explanation:
∴ S.I. on Rs. 450 = Rs. 90.
| S.I. on Rs. 540 = Rs. | ❨ | 90 | x 540 | ❩ | = Rs. 108. |
| 450 |
∴ B.D. = Rs. 108.
- 3. The banker's discount of a certain sum of money is Rs. 72 and the true discount on the same sum for the same time is Rs. 60. The sum due is:
Options- A. Rs. 360
- B. Rs. 432
- C. Rs. 540
- D. Rs. 1080 Discuss
Correct Answer: Rs. 360
Explanation:
| Sum = | B.D. x T.D. | = Rs. | ❨ | 72 x 60 | ❩ | = Rs. | ❨ | 72 x 60 | ❩ | = Rs. 360. |
| B.D. - T.D. | 72 - 60 | 12 |
- 4. The banker's gain of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time and at the same rate is Rs. 30. The sum is?
Options- A. Rs. 1080
- B. Rs. 180
- C. Rs. 500
- D. Rs. 300 Discuss
Correct Answer: Rs. 180
Explanation:
Sum = (B.D. x T.D.) / (B.D. - T.D.) = Rs. (36 x 30) / 6
= Rs. 180
- 5. The banker's gain of a certain sum due 2 years hence at 5% per annum is Rs. 80. The present worth is?
Options- A. Rs. 800
- B. Rs. 1600
- C. Rs. 1200
- D. Rs. 880 Discuss
Correct Answer: Rs. 800
Explanation:
T.D. = (B.G. X 100) / (Rate x Time)
= Rs. (80 x 100) / (5 x 2)
= Rs. 800
- 6. The present worth of a certain due sometime hence is Rs. 1600 and the true discount is Rs. 160. The banker's gain is?
Options- A. Rs. 10
- B. Rs. 16
- C. Rs. 20
- D. Rs. 24 Discuss
Correct Answer: Rs. 16
Explanation:
B.G. = (T.D.)2 / P.W.
= Rs. (160 x 160) / 1600
= Rs. 16
- 7. The banker's gain on a sum due 3 years hence at 5% is Rs. 90. The banker's discount is?
Options- A. Rs. 690
- B. Rs. 720
- C. Rs. 810
- D. Rs. 150 Discuss
Correct Answer: Rs. 690
Explanation:
T.D. = (B.G. x 100) / (R x T) = Rs. (90 x 100) / (5 x 3)
= Rs. 600
? B.D. = Rs. (600 +90) = Rs. 690
- 8. The banker's discount on a bill due 6 months hence at 6% is Rs. 37.08. The true discount is?
Options- A. Rs. 6.18
- B. Rs. 12.36
- C. Rs. 48
- D. Rs. 36 Discuss
Correct Answer: Rs. 36
Explanation:
T.D. = (B.D. X 100) / {100 + (R X T)}
= Rs. (37.08 x 100) / {100 + (6 x 1/2)}
= Rs. 36
- 9. The true discount on a bill of Rs. 1860 due after 8 months is Rs. 60. Find the banker's discount?
Options- A. Rs . 62
- B. Rs .52
- C. Rs . 60
- D. None of these Discuss
Correct Answer: Rs . 62
Explanation:
Amount = Rs. 1860.
True discount = Rs. 60
? Present worth = Rs. 1860 - Rs. 60 = Rs. 1800
S.I. on Rs. 1800 for 8 months = Rs. 60
? Rate = [(100 x 60) / (1800 x 2/3)]% = 5%
? Banker's discount = (1860 x 5 x 2/3)/100 = Rs. 62
- 10. The present worth of a sum due some times hence is Rs. 576 and the banker's gain is Re. 1. The true discount is?
Options- A. Rs. 16
- B. Rs. 18
- C. Rs. 24
- D. Rs. 32 Discuss
Correct Answer: Rs. 24
Explanation:
T.D. ?(P.W. x B.G. )
= ?(576 x 1) = Rs. 24
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