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1.
A bill for Rs. 6000 is drawn on July 14 at 5 months . It is discounted on 5th October at 10%. Find the banker's discount, true discount, banker's gain and the money that the holder of the bill receives.
Answer & Solution
Answer: c) Rs. 120, Rs. 117.64, Rs. 2.36, Rs. 5880
Solution: Face value of the bill = Rs. 6000. Date on which the bill was drawn = July 14 at 5 months. Nominally due date = December 14. Legally due date = December 17. Date on which the bill was discounted = October 5. Unexpired time: Oct.+Nov.+Dec. 26 + 30 + 17 = 73 days = 1/5 year. Banker's discount (B.D) = S.I. on Rs. 6000 for 1/5 years = Rs. [6000 * 10 * (1/5) * (1/100)] = Rs. 120. True Discount (T.D) = Rs. [{6000 * 10 * (1/5)} / {100 + {10 * (1/5)}}] = Rs. (12000/102) = Rs. 117.64. Banker's gain (B.G) = (B.D) - (T.D) = Rs. (120 - 117.64) = Rs. 2.36. Money received by the holder of the bill = Rs. (6000 - 120) = Rs. 5880. ![]() 2.
If the true discount on a certain sum due 6 months hence at 15% is Rs. 120, what is the banker's discount on the same sum for the same time and at the same rate?
3.
The banker's discount on Rs. 1800 at 12% per annum is equal to the true discount on Rs. 1872 for the same time at the same rate. Find the time.
4.
The banker's discount and the true discount on a sum of money due 8 months hence are Rs. 120 and Rs. 110 respectively. Find the sum and rate percent.
5.
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.
6.
The banker's discount on Rs. 1650 due a certain time hence is Rs. 165. Find the true discount and the banker's gain.
Answer & Solution
Answer: c) Rs. 150, Rs. 15
Solution: Sum = [(B.D * T.D) / (B.D - T.D)] = [(B.D * T.D) / B.G] T.D/B.G = Sum / B.D = 1650 / 165 = 10 / 1. Thus, if B.G is Re. 1, T.D = Rs. 10 If B.D is Rs. 11, T.D = Rs. 10. If B.D is Rs. 165, T.D = Rs. [(10/11) * 165] = Rs. 150. And, B.G. = Rs. (165 - 150) = Rs. 15. ![]() 7.
What rate percent does a man get for his money when in discounting a bill due 10 months hence, he deducts 10% of the amount of the bill?
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