Banker's Discount - Arithmetic Aptitude Questions and Answers

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The banker's discount on a certain sum due 2 years hence is \(\frac { 11 } { 10 }\)of the true discount .The rate percent is:

11%

10%

5.5%

Answer : Option C

Explanation :

Let T.D. be Re. 1.

Then, B.D. = Rs. \(\frac {1 1 } {10 } \)= Rs.1.10

Sum = Rs \([\frac { 1.10*1 } { 1.10-1 } ]\) = Rs.\((\frac {1 10 } {10 }) \) =Rs. 11

S.I. on Rs. 11 for 2 years is Rs. 1.10

Rate = \([\frac { 100*1.10 } { 11*2 } ]\) % = 5%

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