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1. The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:

A. 12

B. 13

C. 14

D. 15

**Answer : ****15**

Actual amount = 2562 - 122 = 2440

S.I = pnr/100

p =2440, n = 4 months (1/3), S.I = 122

r = (100 x 122) / 2440 x (1/3) = (12200 x 3) / 2440 = 15

2. The banker discount on Rs. 1800 at 12% per annum is equal to the true discount on Rs.1872 for the same time at the same rate. Find the time?

A. 3 months

B. 4 months

C. 5 months

D. 6 months

**Answer : ****4 months**

Simple Interest on Rs.1800 = True Discount on Rs.1872.

Thus, Rs. 72 is the simple interest on Rs. 1800 at 12%.

Required time = Simple Interest x 100 / P x R

= 72 x 100 / 1800 x 12

= 6/18

=1/3

= 4 months

3. The banker gain on a bill due due 1 year hence at 12% per annum is Rs. 6. The true discount is

A. Rs. 72

B. Rs. 36

C. Rs. 54

D. Rs. 50

**Answer : ****Rs. 50**

Banker’ gain = True discount x Rate x time / 100

True discount = Banker’ gain x 100 / Rate x time

True discount = (6 x 100) / (12 x 1)

= 50

4. If the true discount on a certain sum due 6 months hence at 15% is Rs. 120. What is the banker discount on the same sum for the same time and at the same rate?

A. Rs. 119

B. Rs. 129

C. Rs. 131

D. Rs. 139

**Answer : ****Rs. 129**

Banker’s gain = True discount x Rate x time / 100

= 120 x 15 x (1/2) / 100

= 60 x 15 / 100

= 900 / 100

= 9

Banker’s discount = Banker’s gain + True discount

= 9 + 120

= 129

5. The banker discount of a certain sum of money is Rs. 72 and the true discount on the same sum for the same time is Rs. 60. The sum due is

A. Rs. 360

B. Rs. 432

C. Rs. 540

D. Rs.1080

**Answer : ****Rs. 360**

Given, True Discount (T.D) =60, Banker Discount (B.D) = 72

= (B.D x T.D / B. D - T.D)

= Rs.(72x60 / 72-60)

= Rs.(72 x 60 / 12)

= Rs.(4320 / 12)

= Rs. 360.

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