Banker's Discount Practice Test 1

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Question : 1 of 40

Marks: +1, -0

The present worth of a bill due 2 years hence, is Rs 2,000 and if the bill were due at the end of 4 years, it would be Rs 1,500 Find the rate per cent per annum.

20%
25%
30%
35%
None of these

Solution:

{PW_1}/{PW_2}={100+R×T_2}/{100+R×T_1}

PW_1= 2000, PW_2= 1500,

T _1

= 2 years,

T_2

= 4 years

2000/1500={100+R×4}/{100+R×2}

2000+40R=1500+60R

R=25%

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