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The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?
- a)Rs. 180
- b)Rs. 120
- c)Rs. 220
- d)Rs. 200
Correct answer is option 'A'. Can you explain this answer?
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Banker's Discount and True Discount:
Before we solve the problem, let's understand the concepts of Banker's Discount and True Discount.
Banker's Discount:
Banker's Discount is the interest charged by the banker on the face value of a bill for the period from the date of discounting the bill to its maturity. It is always calculated on the face value of the bill.
True Discount:
True Discount is the interest on the present value of a bill for the period from the date of discounting the bill to its maturity. It is always calculated on the present value of the bill.
Given information:
Banker's Discount (BD) = Rs. 36
True Discount (TD) = Rs. 30
To find: The sum due
Let's assume the sum of money is 'x' rupees.
Formula for Banker's Discount:
BD = (x * R * T) / 100
where R is the rate of interest and T is the time period.
Formula for True Discount:
TD = (x * R * T) / (100 + R * T)
Comparison of the formulas:
From the given information, we have:
BD = Rs. 36
TD = Rs. 30
By comparing the formulas of Banker's Discount and True Discount, we can equate them as follows:
(x * R * T) / 100 = (x * R * T) / (100 + R * T)
Simplifying the equation:
100 + R * T = 100
R * T = 0
Since the rate of interest and time period cannot be zero, this equation has no solution.
Therefore, there is a mistake in the given information. The correct values of Banker's Discount and True Discount cannot be Rs. 36 and Rs. 30 respectively.
Hence, the given question is incorrect and cannot be solved.
Answer: None of the given options are correct.
Before we solve the problem, let's understand the concepts of Banker's Discount and True Discount.
Banker's Discount:
Banker's Discount is the interest charged by the banker on the face value of a bill for the period from the date of discounting the bill to its maturity. It is always calculated on the face value of the bill.
True Discount:
True Discount is the interest on the present value of a bill for the period from the date of discounting the bill to its maturity. It is always calculated on the present value of the bill.
Given information:
Banker's Discount (BD) = Rs. 36
True Discount (TD) = Rs. 30
To find: The sum due
Let's assume the sum of money is 'x' rupees.
Formula for Banker's Discount:
BD = (x * R * T) / 100
where R is the rate of interest and T is the time period.
Formula for True Discount:
TD = (x * R * T) / (100 + R * T)
Comparison of the formulas:
From the given information, we have:
BD = Rs. 36
TD = Rs. 30
By comparing the formulas of Banker's Discount and True Discount, we can equate them as follows:
(x * R * T) / 100 = (x * R * T) / (100 + R * T)
Simplifying the equation:
100 + R * T = 100
R * T = 0
Since the rate of interest and time period cannot be zero, this equation has no solution.
Therefore, there is a mistake in the given information. The correct values of Banker's Discount and True Discount cannot be Rs. 36 and Rs. 30 respectively.
Hence, the given question is incorrect and cannot be solved.
Answer: None of the given options are correct.
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The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. Can you explain this answer?
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The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. 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 banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. 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 banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. Can you explain this answer?.
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The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. Can you explain this answer?, a detailed solution for The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of The banker's discount of a certain sum of money is Rs. 36 and the true discount on the same sum for the same time is Rs. 30. What is the sum due?a)Rs. 180b)Rs. 120c)Rs. 220d)Rs. 200Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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