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1) The banker's discount on a certain sum due 2 years hence is 6/5 of the true discount.
The rate percent is:A) 15% B) 20% C) 10% D) 16%
Answer & Explanation
Answer: 10% (Let T.D. be $1.
Then, B.D. =$ 6/5
Sum = $ 6/5 x 1/((6/5) -1) = $ 6
S.I. on $ 6 for 2 years is $6/5
Rate = 100 x 6/5/ 6 *2 % = 10%.)
2) The true discount on a bill of $ 630 is $70. The banker's discount is:A) 78.75 B) 75.75 C) 75 D) 71
Answer & Explanation
Answer: 78.75 (P.W. =$ (630 - 70) = $ 560.
S.I. on $. 560 = $ 70.
S.I. on $ 630 = $ 70 x 630/560 =$ 78.75
B.D. = $ 78.75)
3) The banker's discount of a certain sum of money is $ 144 and the true discount on the same sum for the same time is $ 120. The sum due is:A) 300 B) 720 C) 320 D) 360
4) The banker's gain on a bill due 1 year hence at 12% per annum is $ 18. The true discount is:A) 60 B) 120 C) 100 D) 150
5) The banker's gain on a certain sum due 1.5 years hence is 1/9 of the banker's
discount. The rate percent is:A) 25/3% B) 9.33% C) 6.75% D) 6.35%
Answer & Explanation
Answer: 25/3% (Let, B.D = $ 1.
Then, B.G. = $1/9.
T.D. = (B.D. - B.G.) = Re. 1 - 1/9 = $8/9
Sum = 1 x (8/9)/(1-(8/9)) = $8
S.I. on $8 for 1.5 years is $ 1.
Rate = (100 x 1)/ 8 *(3/2)% = 25/3%)
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