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Discussion :: Banker's Discount

  1. The banker's discount on a sum of money for 1 \(\frac { 1 } { 2 }\) years  is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

  2. A.

    10%

    B.

    13%

    C.

    12%

    D.

    15%

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    Answer : Option C

    Explanation :

    B.D . for \(\frac { 3 } { 2 } \) years = Rs. 558

     

    B.D . for 2 years = Rs. [558 * \( \frac { 2 } {3}\) x 2]

                                 

                               = Rs. 744

     

     T.D. for 2 years = Rs. 600.

     

     Sum = \(\frac { B.D *T.D } { B.D - T.D}\) = Rs. \( [\frac { 744 *600} {144 } ]\) 

     

                  = Rs. 3100.

     

     Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.

     

     Rate  = \( [\frac { 100 *744} {3100*2 } ]\)% =12%

     


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