Banker's Discount Practice Test 2

Question : 40 of 40

Marks: +1, -0

The banker’s gain on a sum due

1 1 /3

years hence, at 15% p.a. is Rs 42. Then the present worth is:

Solution:

TD={BG×100}/{R×T}

={42×100×3}/{15×4} =210

PW={100×TD}/{R×T}

={100×210×3}/{15×4}=1050

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