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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:
- a)Rs. 1360
- b)Rs. 1000
- c)Rs. 360
- d)Rs. 640
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
The bankers gain on a sum due 3 years hence at 12% per annum is Rs. 36...
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
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
Most Upvoted Answer
The bankers gain on a sum due 3 years hence at 12% per annum is Rs. 36...
Calculation of Banker's Discount:
Banker's Gain is the difference between the Banker's Gain and the Banker's Discount.
Given:
- Rate of interest = 12%
- Time period = 3 years
- Banker's Gain = Rs. 360
Calculations:
Let the Principal be Rs. P.
Banker's Gain = PRT/100
360 = P * 12 * 3 / 100
360 = 36P / 100
P = 1000
Now, Banker's Discount = Principal + Banker's Gain
Banker's Discount = 1000 + 360
Banker's Discount = Rs. 1360
Therefore, the Banker's Discount is Rs. 1360, which corresponds to option 'A'.
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Community Answer
The bankers gain on a sum due 3 years hence at 12% per annum is Rs. 36...
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
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
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The bankers gain on a sum due 3 years hence at 12% per annum is Rs. 360. The bankers discount is:a)Rs. 1360b)Rs. 1000c)Rs. 360d)Rs. 640Correct answer is option 'A'. Can you explain this answer?
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