Bankers Discount problems with Explanation

For those who are preparing for the banker's discount sums for the competitive exams, here is a fantastic answer!

Introduction

All competitive tests, including TNPSC, SSC, bank exams, etc., have average questions. Additionally, many interview questions make advantage of it. Here, we've included formulas for solved questions so you may quickly study them and ace your tests.

1. The Banker's discount and True discount on a certain sum are Rs. 330 and Rs. 240 respectively. Find out the sum?

Answer: Rs. 880

Explanation:

Given data,

Banker's discount = Rs. 330 True discount = Rs. 240

Formula, Sum = (Banker's discount * True discount) / (Banker's discount - True discount)

= (330 * 240) / (330 - 240)

= (330 * 240) / 90

= Rs. 880

The sum is Rs. 880.

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2. The banker's discount on a bill due 6 months hence at 8 % is Rs. 24.24. What is the true discount?

Answer: 23.30

Explanation:

Given data, Time = 6 months

= 1 / 2 year Rate = 8 %

Banker's discount = Rs. 24.24 Formula,

True discount = (Banker's discount * 100) / [ 100 + ( Rate * Time ) ]

= ( 24.24 * 100 ) / [ 100 + ( ( 1 / 2 ) * 8 ) ]

= 2424 / [ 100 + 4 ]

= 2424 / 104

= Rs. 23.30

The true discount is Rs. 23.30.

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3. The present worth of a certain bill due sometime hence is Rs. 600 and the true discount is Rs. 30. What is the banker's discount?

Answer: Rs. 31.50

Explanation:

From the given data, Present worth = Rs. 600 True discount = Rs. 30 Formula,

Banker's discount = ( True discount )2 / Present worth

= 302 / 600

= 900 / 600

Banker's discount = Rs. 1.50

Formula, Banker's discount = Banker's discount - True discount

1.50 = Banker's discount - 30 Banker's discount = 30 + 1.50

= Rs. 31.50

The banker's discount is Rs. 31.50.

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4. The present worth of a certain bill due sometime hence is Rs. 400 and the true discount is Rs. 36. The banker's discount is:

Answer: 39.24.

Explanation:

Banker's Discount = (True discount )2 / Present Worth

= ( 36 * 36 ) / 400

= ( 1296 / 400 )

= 3.24

Banker's Discount = ( True discount + Banker's Gain)

= Rs. ( 36 + 3.24 )

= Rs. 39.24

The banker's discount is 39.24

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5. The banker's discount and the true discount on a sum of money due 8 months hence are Rs. 52 and Rs. 50 respectively. Find the sum and the rate percent. Answer: Sum = 1300 and Rate = 6%

Explanation:

Sum = ( Banker's Discount ) * ( True discount ) / ( Banker's Discount - True discount )

= ( 52 * 50 ) / ( 52 - 50 )

= ( 52 * 50 ) / 2

= 2600 / 2

= 1300

Since B.D. is S.I. on the sum due. So S.I. on Rs. 1300 for 8 months is Rs. 52, Consequently,

True discount = ( Banker's Gain * 100 ) / ( Rate * Time )

Rate = ( 100 * 52 ) / ( 1300 * ( 2 / 3 )

Rate = ( 100 * 52 * 3 ) / 2600 Rate = ( 15600 / 2600 )

Rate = 6%

Sum = 1300 and Rate = 6%

Conclusion

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