Banker's Discount Practice Test 2

Question : 38 of 40

Marks: +1, -0

What is the sum due 15 months hence whose present worth at 4% is Rs. 1000?

Solution:

T.D. =

1000 ×15/12×4/100

= Rs. 50
Hence, S.D. = 1000 + 50 = Rs. 1050

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