Banker's Discount Practice Test 1

Question : 37 of 40

Marks: +1, -0

The banker’s gain on a bill due 3 years hence at 5% is Rs 50. Find the present worth of the bill.

Solution:

Present worth =

\Banker’\s \gain × [100/{RT}]^2

=50[100/{5×3}]^2

=50×10000/225=2222.22

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