Banker's Discount Practice Test 1

Question : 15 of 40

Marks: +1, -0

What is the rate of interest when the present worth of Rs. 108.15 due in 146 days is Rs. 105?

Solution:

T =

146/ 365

2/ 5

year
B.D. = 108.15 – 105 = Rs. 3.15

R={3.15×100×5}/{105×2}=7 1/2%

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