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The banker's gain on a sum due 3 years hence at 12% per annum is Rs. 360. The banker's discount is:
Answer & Solution
Correct Answer:
Option
A
BG = Rs. 360
T = 3 years
R = 12%
$$\eqalign{ & TD = \frac{{BG \times 100}}{{TR}} \cr & \,\,\,\,\,\,\,\,\,\,\, = \frac{{360 \times 100}}{{3 \times 12}} \cr & \,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}1000 \cr} $$
BG = BD - TD
⇒ BD = BG + TD = 360 + 1000 = Rs. 1360
T = 3 years
R = 12%
$$\eqalign{ & TD = \frac{{BG \times 100}}{{TR}} \cr & \,\,\,\,\,\,\,\,\,\,\, = \frac{{360 \times 100}}{{3 \times 12}} \cr & \,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}1000 \cr} $$
BG = BD - TD
⇒ BD = BG + TD = 360 + 1000 = Rs. 1360
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