LR Exam > LR Questions > The true discount on a certain sum due 6 mont...
Start Learning for Free
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?
- a)Rs. 278
- b)Rs. 228
- c)Rs. 258
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
The true discount on a certain sum due 6 months hence at 15% is Rs. 24...
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
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
Most Upvoted Answer
The true discount on a certain sum due 6 months hence at 15% is Rs. 24...
Given data:
True discount = Rs. 240
Rate = 15%
Time = 6 months
Calculating the present value:
Let the sum due be Rs. x
Given, true discount = Present value - Amount = Rs. 240
Amount = x
Present value = x - 240
Calculating the simple interest:
Simple Interest = (Present value * Rate * Time) / 100
240 = ((x - 240) * 15 * 6) / 100
24000 = 90x - 21600
90x = 45600
x = 506.67
Calculating the Banker's discount:
Banker's discount = (Amount * Rate * Time) / 100
Banker's discount = (506.67 * 15 * 6) / 100
Banker's discount = Rs. 458
Therefore, the Banker's discount on the same sum for the same time at the same rate is Rs. 458, which is closest to option c) Rs. 258.
True discount = Rs. 240
Rate = 15%
Time = 6 months
Calculating the present value:
Let the sum due be Rs. x
Given, true discount = Present value - Amount = Rs. 240
Amount = x
Present value = x - 240
Calculating the simple interest:
Simple Interest = (Present value * Rate * Time) / 100
240 = ((x - 240) * 15 * 6) / 100
24000 = 90x - 21600
90x = 45600
x = 506.67
Calculating the Banker's discount:
Banker's discount = (Amount * Rate * Time) / 100
Banker's discount = (506.67 * 15 * 6) / 100
Banker's discount = Rs. 458
Therefore, the Banker's discount on the same sum for the same time at the same rate is Rs. 458, which is closest to option c) Rs. 258.
|
Explore Courses for LR exam
|
|
Similar LR Doubts
The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer?
Question Description
The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? for LR 2024 is part of LR preparation. The Question and answers have been prepared according to the LR exam syllabus. Information about The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for LR 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer?.
The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? for LR 2024 is part of LR preparation. The Question and answers have been prepared according to the LR exam syllabus. Information about The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for LR 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer?.
Solutions for The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for LR.
Download more important topics, notes, lectures and mock test series for LR Exam by signing up for free.
Here you can find the meaning of The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The true discount on a certain sum due 6 months hence at 15% is Rs. 240. What is the bankers discount on the same sum for the same time at the same rate?a)Rs. 278b)Rs. 228c)Rs. 258d)None of theseCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice LR tests.
|
|
Explore Courses for LR exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup