Banker's Discount Practice Test 3

Question : 7 of 12

Marks: +1, -0

The banker’s discount on a certain sum due 2 years hence is

7/ 6

of the true discount. Find the rate per cent per annum?

Solution:

Let TD be = Rs x
The BD = Rs

7/6x

Sum

={BD×TD}/{BD-TD}

=(7/6x×x)/(7/6x-x)={7x^2}/6×6/x=7x

SI on Rs 7x for 2 years is Rs

7/6x

∴\Rate ={SI×100}/{P×T}

={7x×100}/{6×7x×2}=8 1/3%

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