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Bankers Discount Test - 1

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Bankers Discount Test - 1
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Weekly Quiz Competition
  • Question 1
    3 / -1

     

    The banker's discount on a bill due 4 months hence at 15% is Rs. 420. What is the true discount?

     

     

    Solution

     

     

  • Question 2
    3 / -1

    The banker's discount on a certain amount due 2 years hence is 11/10 of the true discount. What is the rate percent?

    Solution

  • Question 3
    3 / -1

    The present worth of a sum due sometime hence is Rs. 576 and the banker's gain is Rs. 16. The true discount is:

    Solution

  • Question 4
    3 / -1

    What is the banker's discount if the true discount on a bill of Rs.540 is Rs.90 ?

    Solution

  • Question 5
    3 / -1

     

    A bill for Rs. 3000 is drawn on 14th July at 5 months. It is discounted on 5th October at 10%. What is the Banker's Discount?

     

    Solution

     

     F = Rs. 3000
    R = 10%
    Date on which the bill is drawn = 14th July at 5 months
    Nominally Due Date = 14th December
    Legally Due Date = 14th December + 3 days = 17th December
    Date on which the bill is discounted = 5th October
    Unexpired Time
    = [6th to 31th of October] + [30 Days in November] + [1th to 17th of December]
    = 26 + 30 + 17
    = 73 Days
    = 73/365year = 1/5year
    Banker's Discount = Simple Interest on the face value of the bill for unexpired time = FTR/100
    = (3000×1/5×10)/100
    = 30×1/5×10
    = Rs.60
     

     

  • Question 6
    3 / -1

     

    The bankers discount and the true discount of a sum at 10% per annum simple interest for the same time are Rs.100 and Rs.80 respectively. What is the sum and the time?

     

    Solution

     

    BD = Rs.100
    TD = Rs.80
    R = 10%
    F = BD×TD/(BD−TD)
    = (100×80)/(100−80)
    = (100×80)/20
    = Rs.400
    BD = Simple Interest on the face value of the bill for unexpired time = FTR/100
    ⇒ 100 = (400×T×10)/100
    ⇒ 100 = 4×T×10
    ⇒ 10 = 4×T
    ⇒ T = 10/4
    = 2.5years
     

     

  • Question 7
    3 / -1

    The banker's gain on a sum due 6 years hence at 12% per annum is Rs. 540. What is the banker's discount?

    Solution

  • Question 8
    3 / -1

    The present worth of a certain bill due sometime hence is Rs. 1296 and the true discount is Rs. 72. What is the banker's discount?

    Solution

    and

  • Question 9
    3 / -1

    The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?

    Solution

  • Question 10
    3 / -1

     

    The banker's gain on a bill due 1 year hence at 10% per annum is Rs. 20. What is the true discount?

     

    Solution

     

     

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