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SSC CGL Exam  >  SSC CGL Tests  >  Test: Banker's Discount- 1 - SSC CGL MCQ

Test: Banker's Discount- 1 - SSC CGL MCQ


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10 Questions MCQ Test - Test: Banker's Discount- 1

Test: Banker's Discount- 1 for SSC CGL 2024 is part of SSC CGL preparation. The Test: Banker's Discount- 1 questions and answers have been prepared according to the SSC CGL exam syllabus.The Test: Banker's Discount- 1 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- 1 below.
Solutions of Test: Banker's Discount- 1 questions in English are available as part of our course for SSC CGL & Test: Banker's Discount- 1 solutions in Hindi 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- 1 | 10 questions in 10 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study for SSC CGL Exam | Download free PDF with solutions
Test: Banker's Discount- 1 - Question 1
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Q.

The banker's discount on a bill due 4 months hence at 15% is Rs. 420. What is the true discount?

 

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Test: Banker's Discount- 1 - Question 2
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The banker's discount on a certain amount due 2 years hence is 11/10 of the true discount. What is the rate percent?

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Test: Banker's Discount- 1 - Question 3
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The present worth of a sum due sometime hence is Rs. 576 and the banker's gain is Rs. 16. The true discount is:

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Test: Banker's Discount- 1 - Question 4
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What is the banker's discount if the true discount on a bill of Rs.540 is Rs.90 ?
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Test: Banker's Discount- 1 - Question 5
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A bill for Rs. 3000 is drawn on 14th July at 5 months. It is discounted on 5th October at 10%. What is the Banker's Discount?
Detailed Solution for Test: Banker's Discount- 1 - Question 5

 F = Rs. 3000
R = 10%
Date on which the bill is drawn = 14th July at 5 months
Nominally Due Date = 14th December
Legally Due Date = 14th December + 3 days = 17th December
Date on which the bill is discounted = 5th October
Unexpired Time
= [6th to 31th of October] + [30 Days in November] + [1th to 17th of December]
= 26 + 30 + 17
= 73 Days
= 73/365year = 1/5year
Banker's Discount = Simple Interest on the face value of the bill for unexpired time = FTR/100
= (3000×1/5×10)/100
= 30×1/5×10
= Rs.60
 

Test: Banker's Discount- 1 - Question 6
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The bankers discount and the true discount of a sum at 10% per annum simple interest for the same time are Rs.100 and Rs.80 respectively. What is the sum and the time?
Detailed Solution for Test: Banker's Discount- 1 - Question 6

BD = Rs.100
TD = Rs.80
R = 10%
F = BD×TD/(BD−TD)
= (100×80)/(100−80)
= (100×80)/20
= Rs.400
BD = Simple Interest on the face value of the bill for unexpired time = FTR/100
⇒ 100 = (400×T×10)/100
⇒ 100 = 4×T×10
⇒ 10 = 4×T
⇒ T = 10/4
= 2.5years
 

Test: Banker's Discount- 1 - Question 7
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The banker's gain on a sum due 6 years hence at 12% per annum is Rs. 540. What is the banker's discount?
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Test: Banker's Discount- 1 - Question 8
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The present worth of a certain bill due sometime hence is Rs. 1296 and the true discount is Rs. 72. What is the banker's discount?
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Test: Banker's Discount- 1 - Question 9
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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?
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Test: Banker's Discount- 1 - Question 10
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The banker's gain on a bill due 1 year hence at 10% per annum is Rs. 20. What is the true discount?
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