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





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