Banker's Discount Practice Test 1

Question : 22 of 40

Marks: +1, -0

The banker’s discount on Rs 1,520 at 2 (12/19)% p.a. is the same as the true discount on Rs 1,580 for the same time and at the same rate. Then the time is:

3 years
$2 1/3$ years
1 year 8 months
$1 1/2$ years
2 years

Validate

Solution:

PW of Rs 1,580 is Rs 1,520.
∴ Rs 60 is SI on Rs 1,520 at

2 12/19%

p.a.
∴ Time

={SI×100}/{\Sum×\Rate}

={60×100×19}/{1520×50}

=3/2=1 1/2\year

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