The banker’s discount on a sum of money for 1 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:
Correct answer C. 12%
Tip: press A, B, C or D to answer, and N for the next question.
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More Banker's Discount questions
See allFor the same bill, time and rate, how does the banker’s discount compare with the true discount?
Correct answer C. Banker's discount is greater
What is the banker’s discount on Rs. 5,000 due 3 months hence at 12% per annum?
Correct answer A. Rs. 150
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The banker’s gain on a sum due 2 years hence at 10% per annum is Rs. 40. What is the true discount?
Correct answer C. Rs. 200
The banker’s discount on a bill due 6 months hence at 8% per annum is Rs. 120. What is the face value of the bill?
Correct answer D. Rs. 3,000
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