Q. What is the present worth of a sum of $8000 due in 2 years if the banker's discount is $640 at 8% per annum?
-
A.
$7200
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B.
$7600
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C.
$8000
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D.
$8400
Solution
Banker's Discount = P × R × T / 100. 640 = P × 8 × 2 / 100. P = $7200.
Correct Answer:
A
— $7200
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Q. What is the true discount on a bill of Rs. 10000 due in 1 year if the Banker's Discount is Rs. 1000?
-
A.
Rs. 900
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B.
Rs. 1000
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C.
Rs. 1100
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D.
Rs. 800
Solution
True Discount = Banker's Discount × (Time / (Time + 1)) = 1000 × (1 / (1 + 1)) = Rs. 500.
Correct Answer:
A
— Rs. 900
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Q. What is the true discount on a bill of Rs. 30000 due in 2 years if the Banker's Discount is Rs. 3000?
-
A.
Rs. 2500
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B.
Rs. 3000
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C.
Rs. 3500
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D.
Rs. 2000
Solution
True Discount = Banker's Discount × (Time / (Time + 1)) = 3000 × (2 / (2 + 1)) = Rs. 2000.
Correct Answer:
A
— Rs. 2500
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Q. What is the true discount on a bill of Rs. 5000 due in 3 months if the Banker's Discount is Rs. 125?
-
A.
Rs. 100
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B.
Rs. 125
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C.
Rs. 150
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D.
Rs. 200
Solution
True Discount = Banker's Discount * (Time / (Time + 1)) = 125 * (3/12) = Rs. 31.25.
Correct Answer:
A
— Rs. 100
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