Advertisements
Advertisements
प्रश्न
A bill of ₹ 65,700 drawn on July 10 for 6 months was discounted for ₹ 65,160 at 5% p.a. On what day was the bill discounted?
उत्तर
Given, Face value = ₹ 65,700
Date of drawing = 10th July
Period of the bill = 6 months
∴ Nominal due date = 10th January
Legal due date = 13th January
r = 5% p.a.
Cash value = ₹ 65,160
Since, B.D. = F.V. – C.V. = 65,700 – 65,160
∴ B.D. = ₹ 540
But, B.D. = interest on F.V. for n years at r %
i.e., B.D. = `("F.V." xx "n"/365 xx "r")/100`
∴ `540 = (65700 xx "n" xx 5)/(100 x 365)`
∴ n = `(540 xx 365 xx 100)/(65700 xx 5)`
∴ Discount is deducted for 60 days. Thus, the bill is discounted 60 days before 13th January.
| Jan | Dec | Nov | Total |
| 13 | 31 | 16 | 60 |
∴ Date of discounting the bill is 14th November.
Notes
The answer in the textbook is incorrect.
APPEARS IN
संबंधित प्रश्न
What is sum due of ₹ 8,000 due 4 months hence at 12.5% simple interest?
The true discount on a sum is `3/8` of the sum due at 12% p.a. Find the period of the bill.
Find the true discount, banker’s discount and banker’s gain on a bill of ₹ 4,240 due 6 months hence at 9% p.a.
A bill was drawn on 14th April for ₹ 7,000 and was discounted on 6th July at 5% p.a. The Banker paid ₹ 6,930 for the bill. Find the period of the bill.
Trade discount is allowed on the _______ price.
Fill in the Blank.
The banker’s discount is also called _______.
The banker’s discount is always _______ than the true discount.
The difference between the banker’s discount and the true discount is called _______.
The date by which the buyer is legally allowed to pay the amount is known as _______.
Fill in the Blanks.
If buyer is allowed both trade and cash discounts, _______ discount is first calculated on _______ price.
State whether the following statement is True or False.
The bankers discount is also called as commercial discount.
A merchant buys some mixers at 15% discount on catalogue price. The catalogue price is ₹ 5,500 per piece of a mixer. The freight charges amount to `2 1/2` % on the catalogue price. The merchant sells each mixer at 5% discount on catalogue price. His net profit is ₹ 41,250. Find a number of mixers.
The difference between true discount and banker’s discount on 6 months hence at 4% p.a. is ₹ 80. Find the true discount, banker’s discount and amount of the bill.
A manufacturer makes clear profit of 30% on cost after allowing 35% discount. If the cost of production rises by 20%, by what percentage should he reduce the rate of discount so as to make the same rate of profit keeping his list prices unaltered.
The date on which the bill is drawn is called as ______
State whether the following statement is True or False:
If only one discount is given then List price = Invoice price
A bill of ₹ 8,000 drawn on 5th January 2019 for 8 months was discounted for ₹ 7,680 on a certain date. Find the date on which it was discounted at 10% p.a.
Solution: Banker’s Discount
B.D.= F.V. − C.V. = 8,000 −7,680 = ₹ 320
Date of drawing = 5th January 2019
Period = 8 months
Nominal due date = `square`
Legal due date = `square`
B.D. = Interest on F.V. for n at 10% p.a.
∴ B.D. = `("F.V." xx "n"/365 xx "r")/100`
∴ 320 = `(8000 xx "n"/365 xx 10)/100`
∴ n = `square` days
| April | May | June | July | Aug | Sep | Total |
| 15 | 31 | 30 | 31 | 31 | `square` | `square` |
∴ Date of discounting is `square`
A wholesaler allows a 25% trade discount and a 5% cash discount. The net price of an article marked at ₹ 1,600 is ______.
The difference between true discount and banker's discount on a bill due 6 months hence at 4% is ₹ 160. Calculate true discount, banker's discount and amount of bill.
