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
• Discussion in forum
Solution : T.D. = [B.G. * 100 / R * T] = Rs. [270 * 100 / 12 * 3] = Rs. 750

discussion

• ( 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
• Discussion in forum
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

• ( 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
• Discussion in forum
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

• ( 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
• Discussion in forum
Answer : 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
• Discussion in forum
Solution : T.D. = (B.G. * 100) / (Rate * Time)
= Rs. (80 * 100) / (5 * 2)
= Rs. 800

discussion

• ( 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
• Discussion in forum
Solution : P.W. = Rs. 1860 - Rs. 60 = Rs. 1800
∴ B.G. = (T.D.)2/P.W. = (60 * 60)/1800 = Rs. 2

discussion

• ( 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
• Discussion in forum
Solution : 37.08 = T.D. [1 + 3/100]
∴ T.D. = 3708 / 103 = Rs. 36

discussion

• ( 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%
• Discussion in forum
Answer : 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%
• Discussion in forum
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

• ( 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
• Discussion in forum
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