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Data Interpretation


( 1 ) The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker's discount is ?
 1) Rs. 250
 2) Rs. 700
 3) Rs. 750
 4) Rs. 550

Show Answer Report Discussion in forumAnswer : 3) Rs. 750
Solution : T.D. = [B.G. * 100 / R * T] = Rs. [270 * 100 / 12 * 3] = Rs. 750
discussion
Answer : 3) Rs. 750



( 2 ) The present worth of a bill due sometime hence is Rs. 1100 and the true discount on the bill is Rs. 110. Find the banker's discount and the banker's gain.
 1) 112
 2) 121
 3) 143
 4) 134

Show Answer Report Discussion in forumAnswer : 2) 121
Solution : T.D. = √(P.W.*B.G)
B.G. = (T.D.)^{2}/ P.W. = Rs.[(110*110)/ 1100] = Rs. 11.
B.D.= (T.D. + B.G.) = Rs. (110 + 11) = Rs. 121.
discussion
Answer : 2) 121



( 3 ) The banker's gain of a certain sum due 3 years hence at 10% per annum is Rs. 27. The present worth is:
 1) Rs. 480
 2) Rs. 520
 3) Rs. 300
 4) Rs. 960

Show Answer Report Discussion in forumAnswer : 3) Rs. 300
Solution : T = 3 years
R = 10%
TD = BG * 100/TR = 27*100/3*10 = 9*10 = Rs. 90
TD = PW * TR/100
=> 90 = PW *3*10/100
=> 900 = PW *3
PW = 900/3 = Rs. 300
discussion
Answer : 3) Rs. 300



( 4 ) The true discount on a bill of Rs. 1860 due after 8 months is Rs. 60. Find the banker's discount ?
 1) Rs . 62
 2) Rs .52
 3) Rs . 60
 4) Rs . 75

Show Answer Report Discussion in forumAnswer : 1) Rs . 62
Solution : 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 * 60) / (1800 * 2/3)]% = 5%
∴ Banker's discount = (1860 * 5 * 2/3)/100 = Rs. 62
discussion
Answer : 1) Rs . 62



( 5 ) The banker's gain of a certain sum due 2 years hence at 5% per annum is Rs. 80. The present worth is ?
 1) Rs. 800
 2) Rs. 1600
 3) Rs. 1200
 4) Rs. 880

Show Answer Report Discussion in forumAnswer : 1) Rs. 800
Solution : T.D. = (B.G. * 100) / (Rate * Time)
= Rs. (80 * 100) / (5 * 2)
= Rs. 800
discussion
Answer : 1) Rs. 800



( 6 ) The true discount on a bill of Rs. 1860 due after 8 months is Rs. 60. Find the banker's gain ?
 1) Rs. 1.5
 2) Rs. 2.5
 3) Rs. 4
 4) Rs. 2

Show Answer Report Discussion in forumAnswer : 4) Rs. 2
Solution : P.W. = Rs. 1860  Rs. 60 = Rs. 1800
∴ B.G. = (T.D.)^{2}/P.W. = (60 * 60)/1800 = Rs. 2
discussion
Answer : 4) Rs. 2



( 7 ) The banker's discount on a bill due 6 months hence at 6% is Rs. 37.08. Find the true discount ?
 1) Rs. 38
 2) Rs. 32
 3) Rs. 36
 4) Rs. 39

Show Answer Report Discussion in forumAnswer : 3) Rs. 36
Solution : 37.08 = T.D. [1 + 3/100]
∴ T.D. = 3708 / 103 = Rs. 36
discussion
Answer : 3) Rs. 36



( 8 ) The banker's discount and the true discount on a sum of money due 8 months hence are Rs. 52 and Rs. 50, respectively. Find the sum and the rate percent ?
 1) Rs. 1300, 6%
 2) Rs. 1200, 5%
 3) Rs. 1500, 8%
 4) Rs. 1400, 6%

Show Answer Report Discussion in forumAnswer : 1) Rs. 1300, 6%
Solution : Sum = (B.D. * T.D.) / (B.D  T.D.) = (52 * 50) / 2 = Rs. 1300
Since B.D. is S.I. on sum due, so S.I. on Rs. 1300 for 8 months is Rs. 52 consequently.
Rate = [(100 * 52)] / [1300 * (2/3)] % = 6%
discussion
Answer : 1) Rs. 1300, 6%



( 9 ) A bill is discounted at 5% per annum. If banker's discount be allowed, at what rate per cent must the proceeds be invested, so that nothing may be lost ?
 1) 5%
 2) 4.90%
 3) 5.26%
 4) 10%

Show Answer Report Discussion in forumAnswer : 3) 5.26%
Solution : Let the sum be Rs. 100. Then, B.D = Rs. 5.
Proceeds = Rs. (100  5) = Rs. 95.
∴ Rs. 5 must be the interest on Rs. 95 for 1 year.
So, rate = (100 * 5) / (95 * 1) = 5 5/19%
discussion
Answer : 3) 5.26%



( 10 ) A banker's paid 5767.50 for a bill of Rs. 5840, drawn on April 4 at 6 months. On what day was the bill discounted the rate of interest being 7% ?
 1) 3rd Aug
 2) 4th Aug.
 3) 3rd Sep
 4) 3rd July

Show Answer Report Discussion in forumAnswer : 1) 3rd Aug
Solution : B.D. = Rs. (5840  5767.20) = Rs. 72.80
Rs. 72.80 is S.I. on Rs. 5840 at 7%
So, Unexpired time = (100 * 72.80) / (7 * 5840) = 13/73 years = 65 days.
Now, date of draw o bill = April, 4 at 6 months.
Nominally due date = October 4.
Legally due date = October 7
So, we must go back 65 days from October 7.
Oct., sept., Aug. = 7 + 30 + 28
i.e., The bill was discounted on 3rd August.
discussion
Answer : 1) 3rd Aug
