Banker’s Discount

Banker's Discount

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Question 1
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. The time is:
A
3 months
B
4 months
C
6 months
D
8 months
Question 1 Explanation: 
S.I. on Rs. 1600 = T.D. on Rs. 1680. Rs. 1600 is the P.W. of Rs. 1680, i.e., Rs. 80 is on Rs. 1600 at 15%. Time = (100 x 80)/(1600 x 15) year =1/3 year = 4 months.
Question 2
The banker's gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:
A
Rs. 480
B
Rs. 520
C
Rs. 600
D
Rs. 960
Question 2 Explanation: 
T.D. =(B.G. x 100)/(Rate x Time) => Rs.(24 x 100)/(10 x 2) => Rs. 120. P.W. = (100 x T.D.)/(Rate x Time) => Rs. (100 x 120)/(10 x 2) => Rs. 600.
Question 3
The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is:
A
Rs. 960
B
Rs. 840
C
Rs. 1020
D
Rs. 760
Question 3 Explanation: 
T.D. = (B.G. x 100)/(R x T)= Rs.(270 x 100)/(12 x 3) = Rs. 750. B.D. = Rs.(750 + 270) = Rs. 1020.
Question 4
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:
A
Rs. 360
B
Rs. 432
C
Rs. 540
D
Rs. 1080
Question 4 Explanation: 
Sum = (B.D. x T.D.)/(B.D. - T.D.)=> Rs. (72 x 60)/(72 - 60) ==> Rs. (72 x 60)/12 = Rs. 360.
Question 5
The banker's gain on a bill due 1 year hence at 12% per annum is Rs. 6. The true discount is: A. B. C. D. Answer: Option D Explanation:
A
Rs. 72
B
Rs. 36
C
Rs. 54
D
Rs. 50
Question 5 Explanation: 
T.D. = (B.G. x 100)/(R x T) => Rs.(6 x 100)/(12 x 1) = > Rs. 50.
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There are 5 questions to complete.

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