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Computer Science
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Banker's Discount
The banker's gain on a certain sum due 1 1 years hence is 3 of the banker's 2 25 discount. The rate percent is:
5 1 % 5
9 1 % 11
8 1 % 8
6 1 % 6
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Correct Answer:
9 1 % 11
Explanation:
Let, B.D = Re. 1.
Then, B.G. = Re.
3
.
25
∴ T.D. = (B.D. - B.G.) = Re.
❨
1 -
3
❩
= Re.
22
.
25
25
Sum =
❨
1 x (22/25)
❩
= Rs.
22
.
1-(22/25)
3
S.I. on Rs.
22
for 1
1
years is Re. 1.
3
2
∴ Rate =
❨
100 x 1
❩%
=
100
= 9
1
%.
11
11
22
x
3
3
2
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