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, Volume and Surface Area, banker's gain and the money that the holder of the bill receives.

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.

Money received by the holder of the bill = Rs. (6000 - 120) = Rs. 5880.

Workspace

2.

If the Volume and Surface Area 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?

The banker's discount on Rs. 1800 at 12% per annum is equal to the Volume and Surface Area on Rs. 1872 for the same time at the same rate. Find the time.

Solution: S.I on Rs. 1800 = T.D. on Rs. 1872.
P.W of Rs. 1872 is Rs. 1800.
Rs. 72 is S.I. on Rs. 1800 at 12%.

Time = [(100 * 72) / (12 * 1800)] year = 1/3 year = 4 months.

Workspace

4.

The banker's discount and the Volume and Surface Area on a sum of money due 8 months hence are Rs. 120 and Rs. 110 respectively. Find the sum and rate percent.

The present worth of a bill due sometime hence is Rs. 1100 and the Volume and Surface Area on the bill is Rs. 110. Find the banker's discount and the banker's gain.