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Bankers Discount - Aptitude MCQ Questions and Solutions with Explanations

Bankers Discount MCQ Questions and answers with easy and logical explanations.Arithmetic Ability provides you all type of quantitative and competitive aptitude mcq questions on Bankers Discount with easy and logical explanations. Bankers Discount MCQ is important for exams like Banking exams,IBPS,SCC,CAT,XAT,MAT etc. Page-3 section-1

21
If the banker’s discount on a certain amount of money is Rs. 80 and the true discount on the same amount for the same time duration is Rs. 64, then the amount due is:
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Amount}}\,{\text{Due}} \cr & = \frac{{B.D. \times T.D.}}{{B.D. - T.D.}} \cr & = \frac{{80 \times 64}}{{80 - 64}} \cr & = {\text{Rs}}{\text{.}}\,320 \cr} $$
22
Find the banker’s gain, if the present worth of a certain amount is Rs.2400 and the true discount is Rs.120.
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Banker's}}\,{\text{Gain}} \cr & = \frac{{{{\left( {T.D.} \right)}^2}}}{{P.W.}} \cr & = \frac{{{{\left( {120} \right)}^2}}}{{2400}} \cr & = \frac{{14400}}{{2400}} \cr & = {\text{Rs}}{\text{.}}\,6 \cr} $$
23
Find the rate percent if the banker’s gain on a certain sum due two and a half year hence is $$\frac{1}{5}$$ of the banker’s discount.
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Let}}\,{\text{Banker's}}\,{\text{Discount}} \cr & = {\text{Rs}}{\text{.}}\,10 \cr & {\text{Then,}}\,{\text{Banker's}}\,{\text{Gain}} \cr & = {\text{Rs}}{\text{.}}\,\frac{1}{5} \times 10 \cr & = {\text{Rs}}{\text{.}}\,2 \cr & T.D. = \left( {B.D. - B.G.} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = \left( {10 - 2} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,8 \cr & {\text{Sum}} = \frac{{10 \times 8}}{{10 - 8}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{80}}{2} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,40 \cr} $$
S.I. on Rs. 40 for 2.5 year is Rs. 10
$$\eqalign{ & {\text{Therefore,}} \cr & {\text{Rate}} = \frac{{100 \times 10}}{{40 \times 2.5}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = 10\% \cr} $$
24
The banker’s gain on a bill due 2 years hence at 10% per annum is Rs.10. What is the true discount?
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & T.D. = \frac{{B.G. \times 100}}{{R \times T}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{10 \times 100}}{{10 \times 2}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,50 \cr} $$
25
What is the banker’s discount, if the true discount on a bill of Rs. 840 is Rs.105?
Discuss
Answer & Solution
Answer: Option C
Solution:
Present Worth (P.W.) = 840 - 105 = Rs. 735
Therefore, S.I. on Rs. 735 = Rs. 105
S.I. on Rs. 8400
= $$\frac{{105 \times 840}}{{735}}$$
= Rs. 120
26
What rate present does a man get for his money when in discounting a bill due 10 months hence he deducts 10% of the amount of the bill ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let amount of the bill = Rs. 100. Money deducted = Rs. 10
Money received by the holder of the bill = Rs. (110 - 10) = Rs. 90
∴ S.I. on Rs. 90 for 10 months = Rs. 10
$$\eqalign{ & \therefore {\text{Rate}} = \left( {\frac{{100 \times 10}}{{90 \times \frac{{10}}{{12}}}}} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 13\frac{1}{3}\,\% \cr} $$
27
The B.D. and T.D. on a certain sum is Rs. 200 and Rs. 100 respectively. Find out the sum.
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & F = \frac{{BD \times TD}}{{BD - TD}} \cr & \,\,\,\,\,\,\,\, = \frac{{200 \times 100}}{{200 - 100}} \cr & \,\,\,\,\,\,\,\, = \frac{{200 \times 100}}{{100}} \cr & \,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,200 \cr} $$
28
The banker's gain on a bill due 1 year hence at 10% per annum is Rs. 20. What is the true discount?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & TD = \frac{{BG \times 100}}{{TR}} \cr & \,\,\,\,\,\,\,\,\,\,\, = \frac{{20 \times 100}}{{10}} \cr & \,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,200 \cr} $$
29
The banker's gain of a certain sum due 3 years hence at 10% per annum is Rs. 36. What is the present worth ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{T}} = 3\,{\text{year}} \cr & {\text{R}} = {\text{10}}\% \cr & {\text{TD = }}\frac{{{\text{BG}} \times 100}}{{{\text{TR}}}} \cr & \,\,\,\,\,\,\,\,\,\,\,\, = \frac{{36 \times 100}}{{3 \times 10}} \cr & \,\,\,\,\,\,\,\,\,\,\,\, = 12 \times 10 \cr & \,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}120 \cr & {\text{TD = }}\frac{{{\text{PW}} \times {\text{TR}}}}{{100}} \cr & \Rightarrow 120 = \frac{{{\text{PW}} \times 3 \times 10}}{{100}} \cr & \Rightarrow 1200 = {\text{PW}} \times 3 \cr & {\text{PW}} = \frac{{1200}}{3} \cr & \,\,\,\,\,\,\,\,\,\,{\text{ = Rs}}{\text{.}}400 \cr} $$
30
The bankers discount and the true discount of a sum at 10% per annum simple interest for the same time are Rs. 100 and Rs. 80 respectively. What is the sum and the time?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & BD = {\text{Rs}}.100 \cr & TD = {\text{Rs}}{\text{.}}\,80 \cr & R = 10\% \cr & F{\text{ = }}\frac{{BD \times TD}}{{(BD - TD)}} \cr & \,\,\,\,\,\,\, = \frac{{100 \times 80}}{{(100 - 80)}} \cr & \,\,\,\,\,\,\, = \frac{{100 \times 80}}{{20}} \cr & \,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,400 \cr} $$
BD = Simple Interest on the face value of the bill for unexpired time = $$\frac{{FTR}}{{100}}$$
$$\eqalign{ & \Rightarrow 100 = \frac{{400 \times T \times 10}}{{100}} \cr & \Rightarrow 100 = 4 \times T \times 10 \cr & \Rightarrow 10 = 4 \times T \cr & \Rightarrow T = \frac{{10}}{4} = 2.5{\text{years}} \cr} $$