Aptitude True Discount and Banker’s Discount Test Paper 3

11) The banker’s discount on Rs. 1500 at 15% per annum is the same as the true discount on Rs. 1550 for the same time and the same rate. What is the time?

1. 0.2 months
2. 0.3 months
3. 0.4 months
4. 0.5 months

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12) The bankers gain on a sum due 5 years hence at 14% per annum is Rs. 280. What is the banker’s discount?

1. Rs. 780
2. Rs. 680
3. Rs. 580
4. Rs. 480

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13) The B.G. on a certain sum 4 years hence at 5% is Rs. 400. Find the present worth.

1. Rs.10000
2. Rs.10500
3. Rs.11000
4. Rs.11500

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14) The present worth of a certain bill due sometime hence is Rs. 450. If the true discount is Rs. 15, what is the banker’s discount?

1. Rs. 12.5
2. Rs. 13.5
3. Rs. 14.5
4. Rs. 15.5

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15) A bill is discounted at 20% per annum. If the banker’s discount is allowed, at what rate percent should be proceeds be invested so that nothing will be lost?

1. 25%
2. 35%
3. 45%
4. 55%

Answer: A

Explanation:

Let the amount = Rs. 100

So, B.D. = Rs. 20 as banker’s discount is the simple interest on the face value of the bill for the unexpired time and bill is discounted at 20% per annum.

Proceeds = Rs. 100 – Rs. 20 = Rs. 80

So, we should get Rs. 20 as the interest of Rs. 80 for one year so that nothing will be lost.

 

 

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