Banker's Discount Practice Test 2

Question : 2 of 40

Marks: +1, -0

The true discount on a bill due 8 months hence, at 4% p.a. is Rs 240. Find the amount of the bill.

Solution:

SI on Rs x for

8/ 12

years at 4% is Rs 240.

∴{x×8/12×4}/{100}=240

{x×8×4}/{12×100}=240

x=9000

So, PW = Rs 9,000
Amount = 9,000 + 240 = Rs 9,240

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