True Discount problems
- 1. The true discount on a certain bill due for nine months at 4 % simple interest is ?150. Find the amount of the bill.
Options- A. ?5150
- B. ?5250
- C. ?4750
- D. ?5650 Discuss
Correct Answer: ?5150
Explanation:
- 2. The present worth of a bill due in sometime is ?1500. Find the banker's discount on the bill, if the true discount is ?75.
Options- A. ?78.75
- B. ?77.75
- C. ?82.75
- D. ?76.75 Discuss
Correct Answer: ?78.75
Explanation:
- 3. The True Discount on ?936 is due after a certain time at 8 % is ?36. The money is due after :
Options- A. 6 Months
- B. 3 Months
- C. 1 Year
- D. 9 Months Discuss
Correct Answer: 6 Months
Explanation:
- 4. The true discount on a bill of $ 2550 due after 3 months is $ 50. Find the banker's discount.
Options- A. $ 53
- B. $ 51
- C. $ 55
- D. $ 57 Discuss
Correct Answer: $ 51
Explanation:
- 5. The true discount on a bill of $ 5450 due in 9 months is $ 450. Find the rate of interest.
Options- A. 12%
- B. 12.5%
- C. 11.5%
- D. 13.1% Discuss
Correct Answer: 12%
Explanation:
- 6. If Rs. 10 be allowed as true discount on a bill of Rs. 110 due at the end of a certain time, then the discount allowed on the same sum due at the end of double the time is?
Options- A. Rs. 20
- B. Rs. 21.81
- C. Rs. 22
- D. Rs. 18.33 Discuss
Correct Answer: Rs. 18.33
Explanation:
S.I on Rs. (110 - 10) for a given time = Rs. 10
S.I. on Rs. 100 for double the time = Rs. 20
Sum = Rs. (100 + 20) = Rs. 120
T.D. on Rs. 110 = Rs. (20/120) x 110 = Rs. 18.33
- 7. Find the true discount on Rs. 39.69 due in 2 years reckoning compound interest at 5%?
Options- A. Rs. 3.69
- B. Rs. 5
- C. Rs. 5.69
- D. Rs. 4.69 Discuss
Correct Answer: Rs. 3.69
Explanation:
? P.W. = 39.69 / (1 + 5 / 100)2
= (3969 x 100 x 100) / (100 x 105 x 105) = Rs. 36
? True discount = Rs. 39.69 - 36 = Rs. 3.69
- 8. Find the present worth of a bill of Rs. 2420 due 2 years later at 10% compound interest. Also find the true discount?
Options- A. Rs. 2000, Rs. 420
- B. Rs. 2200, Rs. 520
- C. Rs. 2100, Rs. 460
- D. None of these Discuss
Correct Answer: Rs. 2000, Rs. 420
Explanation:
Here sum is put on compound interest,
? P.W. = A / (1 + r / 100)n = 2420 / (1 + 10 / 100)2 = 2420 x 100 / 121 = Rs. 2000
? T.D. = P.W. - P
? True discount = 2420 - 2000 = Rs. 420
- 9. If the discount on Rs. 3050 be equal to the simple interest on Rs. 3000 for the same time. Find the time, the rate of interest being 5% per annum?
Options- A. 4 months
- B. 6 months
- C. 3 months
- D. None of these Discuss
Correct Answer: 4 months
Explanation:
? 5 = {(3050 - 3000) / (3000 x T)} x 100
? T = 1/3 years = 4 months
- 10. The true discount on a bill due 10 months hence at 6% per annum is Rs. 26.25. Then the amount of the bill is?
Options- A. Rs. 551.25
- B. Rs. 550
- C. Rs. 551.50
- D. Rs. 550.25 Discuss
Correct Answer: Rs. 551.25
Explanation:
SI on rupees 100 for 10 months at 6% per annum = (100 x 10 x 6)/(12 x 100) = Rs. 5.
? Amount = 100 + 5 = 105.
So true discount = 105 - 100 = Rs. 5
So If TD = 5 then sum due = 100
So, when TD = 26.25 the sum = (100 x 26.25) / 5 = Rs. 551.25
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