Banker's Discount Practice Test 3

Question : 11 of 12

Marks: +1, -0

If the true discount sum due 8 months hence at 4% is Rs 30, what is the bankers discount time at the same rate?

Solution:

BD =

\True \Discount [1+{\Rate ×\Time}/100]

=30[1+{4×8}/{100×12}]=30×1232/1200=30.80

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