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Banker’s Discount

1.

The present worth of a sum due sometimes hence is Rs.5760 and the baker’s gain is Rs.10. What is the true discount?

Answer: D

TD = √ (PW*BG)
TD = √ (5760*10) = √ 57600 = Rs. 240.

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2.

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:

Answer: A

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3.

The present worth of a certain bill due sometime hence is Rs.800 and true discount is Rs.36. The banker's discount is?

Answer: B

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4.

The true discount on  a bill of Rs.540 is rs.90 . The banker's discount is?

Answer: B

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5.

If the discount on Rs. 498 at 5% simple interest is Rs.18, when is the sum due?

Answer: D

F = Rs. 498 TD = Rs. 18
PW = F – TD = 498 – 18 = Rs. 480
R = 5%
TD = (PW*TR)/100
=> 18 = (480*T*5)/100
=> 18 = 24*T
=> T = 18/24 = 3/4YEAR = 12*3/4 months =  9 Months

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6.

The banker’s gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker’s discount is ?

Answer: D

BG = Rs. 360
T = 3 years
R = 12%
TD = BG * 100/TR = (360*100)/(3*12) = Rs. 1000
=> BD = BG + TD = 360 + 1000 = Rs. 1360

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7.

The banker’s discount on a sum of money for 3 years is Rs. 1116. The true discount on the same sum for 4 years is Rs. 1200. What is the rate percent?

Answer: D

BD for 3 years = Rs. 1116
BD for 4 years = 1116*4/3 = Rs.1488
TD for 4 year = Rs.1200
F = (BD*TD)/(BD -TD) = (1488*1200)/(1488 -1200) = 124*1200/24 = 124*100/2 = 62*100 = Rs.6200
=> Rs.1488 is the simple interest on Rs. 6200 for 4 years
=> 1488 = (6200*4*R)/100
=> R=(1488*100)/(6200*4) = 372*100/6200 = 372/62 = 6%

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8.

A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after 3 months. If the rate of interest 12% per annum, how much cash should he pay?

Answer: B

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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?

Answer: A

B.G. = (T.D.)⊃2; / P.W. = (72*72 )/1296 = 12*12/36 = 12/3 = Rs. 4
BG = BD – TD
=> 4 = BD – 72
=> BD = 72 + 4 = Rs. 76

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10.

Rs. 20 is the true discount on Rs. 260 due after a certain time. What will be the true discount on the same sum due after half of the former time, the rate of interest being the same?

Answer: B

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