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SSC CGL Exam  >  SSC CGL Tests  >  Quantitative Aptitude for SSC CGL  >  Test: Banker's Discount- 2 - SSC CGL MCQ

Test: Banker's Discount- 2 - SSC CGL MCQ


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10 Questions MCQ Test Quantitative Aptitude for SSC CGL - Test: Banker's Discount- 2

Test: Banker's Discount- 2 for SSC CGL 2024 is part of Quantitative Aptitude for SSC CGL preparation. The Test: Banker's Discount- 2 questions and answers have been prepared according to the SSC CGL exam syllabus.The Test: Banker's Discount- 2 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Banker's Discount- 2 below.
Solutions of Test: Banker's Discount- 2 questions in English are available as part of our Quantitative Aptitude for SSC CGL for SSC CGL & Test: Banker's Discount- 2 solutions in Hindi for Quantitative Aptitude for SSC CGL course. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free. Attempt Test: Banker's Discount- 2 | 10 questions in 10 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study Quantitative Aptitude for SSC CGL for SSC CGL Exam | Download free PDF with solutions
Test: Banker's Discount- 2 - Question 1
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The banker's gain of a certain sum due 3 years hence at 10% per annum is Rs. 36. What is the present worth ?

Detailed Solution for Test: Banker's Discount- 2 - Question 1

T = 3year
R = 10%
TD = (BG × 100)/TR
= (36 × 100)/(3 × 10)
= 12 × 10
= Rs.120
TD = (PW × TR)/100
⇒ 120 = (PW × 3 × 10)/100
⇒ 1200 = PW × 3
PW = 1200/3 
= Rs.400
 

Test: Banker's Discount- 2 - Question 2
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The present worth of a certain sum due sometime hence is Rs. 3400 and the true discount is Rs. 340. The banker's gain is:

Detailed Solution for Test: Banker's Discount- 2 - Question 2

BG = (TD)2/PW
= (340)2/3400
= (340×340)/3400 
= 340/10
= Rs.34

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Test: Banker's Discount- 2 - Question 3
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The banker's discount on Rs. 1600 at 15% per annum is the same as true discount on Rs. 1680 for the same time and at the same rate. What is the time?

Detailed Solution for Test: Banker's Discount- 2 - Question 3

S.I. on Rs. 1600 = T.D. on Rs. 1680.
 Rs. 1600 is the P.W. of Rs. 1680, i.e., Rs. 80 is on Rs. 1600 at 15%.
Time = (100*80)/(1600*15)
= 1/3 year
= 4 months.
 

Test: Banker's Discount- 2 - Question 4
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The banker's gain on a certain sum due 5/2 years hence is 9/25 of the banker's discount. What is the rate percent?
Detailed Solution for Test: Banker's Discount- 2 - Question 4

Let BD = 1
Then, BG = 9/25
T = 5/2 years
TD = BD - BG
=> 1 - 9/25
=> 16/25
BG = (TD * RT)/100
9/25 = 16/25 * R * 5/2 * 1/100
R = 45/2
R = 22 1/2
 

Test: Banker's Discount- 2 - Question 5
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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:
Detailed Solution for Test: Banker's Discount- 2 - Question 5

BG = Rs. 360
T = 3 years
R = 12%
TD = (BG×100)/TR
= (360×100)/(3×12)
= Rs. 1000
BG = BD - TD
⇒ BD = BG + TD 
= 360 + 1000 
= Rs. 1360
 

Test: Banker's Discount- 2 - Question 6
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The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the banker's discount on the same sum for the same time at the same rate?
Detailed Solution for Test: Banker's Discount- 2 - Question 6

Given in the question,
True Discount = 240
Rate of interest = 15%
Time = 6 months = 1/2 year
As we know the formula ,
True Discount = Banker's Gain ×    100
Time in years x Rate of Interest
⇒ 240 = Banker's Gain × 100/(1/2 × 15)
⇒ 240 = Banker's Gain × (100 x 2)/(1 × 15)
⇒ 24 = Banker's Gain × (10 x 2)/(1 × 15)
⇒ 24 = Banker's Gain × (2 x 2)/(1 × 3 )
⇒ 6 = Banker's Gain × 1/3
⇒ Banker's Gain = Rs. 6 x 3
⇒ Banker's Gain = Rs. 18
Apply the formula, As we know that ,
Banker's Gain = Banker's Discount − True Discount
⇒ 18 = Banker's Discount − 240
⇒ Banker's Discount = Rs. 258
 

Test: Banker's Discount- 2 - Question 7
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A bill is discounted at 10% per annum. If banker's discount is allowed, at what rate percent should the proceeds be invested so that nothing will be lost?
Detailed Solution for Test: Banker's Discount- 2 - Question 7

Let the amount = Rs. 100
Then BD = Rs.10 (∵ banker's discount, BD is the simple Interest on the face value of the bill for unexpired time and bill is discounted at 10% per annum)
Proceeds = Rs. 100 - Rs. 10 = Rs. 90
Hence we should get Rs. 10 as the interest of Rs. 90 for 1 year so that nothing will be lost
⇒ 10 = (90×1×R)/100
⇒ R = (10×100)/90
= 100/9
= 11 1/9%
 

Test: Banker's Discount- 2 - Question 8
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The banker's discount on a sum of money for 3 years is Rs. 1116. The true discount on the same sum for 4 years is Rs. 1200. What is the rate percent?
Detailed Solution for Test: Banker's Discount- 2 - Question 8

BD for 3 years = Rs.1116
BD for 4 years = (1116/3)×4
= Rs. 1488
TD for 4 years = Rs.1200
F = (BD×TD)/(BD−TD)
= (1488×1200)/(1488−1200)
= (1488×1200)/288
= (124×1200)/24
= (124×100)/2
= 62×100
= Rs.6200
⇒ Rs. 1488 is the simple interest on Rs. 6200 for 4 years
⇒1488 = (6200×4×R)/100
⇒ R = (1488×100)/(6200×4)
= (372×100)/(6200)
= 372/62
= 6%

Test: Banker's Discount- 2 - Question 9
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The true discount on a bill of Rs. 2160 is Rs. 360. What is the banker's discount?
Detailed Solution for Test: Banker's Discount- 2 - Question 9

F = Rs. 2160
TD = Rs. 360
PW = F - TD = 2160 - 360 = Rs. 1800
True Discount is the Simple Interest on the present value for unexpired time
⇒ Simple Interest on Rs. 1800 for unexpired time = Rs. 360
Banker's Discount is the Simple Interest on the face value of the bill for unexpired time
= Simple Interest on Rs. 2160 for unexpired time
= (360/1800)×2160
= 1/5×2160
= Rs.432

Test: Banker's Discount- 2 - Question 10
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A banker paid Rs.5767.20 for a bill of Rs.5840, drawn of Apr 4 at 6 months. If the rate of interest was 7%, what was the day on which the bill was discounted?
Detailed Solution for Test: Banker's Discount- 2 - Question 10

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