Banker's Discount - Arithmetic Aptitude Questions and Answers

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Discussion :: Banker's Discount

The banker's discount on a sum of money for 1 $\frac { 1 } { 2 }$ years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:

10%

13%

12%

15%

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Answer : Option C

Explanation :

B.D . for $\frac { 3 } { 2 }$ years = Rs. 558

B.D . for 2 years = Rs. [558 * $\frac { 2 } {3}$ x 2]

= Rs. 744

T.D. for 2 years = Rs. 600.

Sum = $\frac { B.D *T.D } { B.D - T.D}$ = Rs. $[\frac { 744 *600} {144 } ]$

= Rs. 3100.

Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.

Rate = $[\frac { 100 *744} {3100*2 } ]$ % =12%

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