Advertisements
Advertisements
Question
Banker’s gain is simple interest on ______.
Options
Banker’s discount
Face Value
Cash value
True discount
Solution
Banker’s gain is simple interest on True discount.
APPEARS IN
RELATED QUESTIONS
A bill of ₹ 8,000 drawn on 5th January 1998 for 8 months was discounted for ₹ 7,680 on a certain date. Find the date on which it was discounted at 10% 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.
A bill of ₹ 51,000 was drawn on 18th February 2010 for 9 months. It was encashed on 28th June 2010 at 5% p.a. Calculate the banker’s gain and true discount.
The sum due is also called as ______.
Fill in the Blank.
A person who draws the bill is called _______.
The banker’s discount is always _______ than the true discount.
The difference between the banker’s discount and the true discount is called _______.
_______ = List price (catalogue Price) – Trade Discount.
Cash discount is allowed on list price.
The difference between the banker’s discount and true discount is called sum due.
State whether the following statement is True or False.
A person can get both, trade discount and cash discount.
An article is marked at ₹ 800, a trader allows a discount of 2.5% and gains 20% on the cost. Find the cost price of the article.
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 the ______ and the true discount is called Banker’s Gain (B.G). It is equal to the interest on true discount
State whether the following statement is True or False:
If only one discount is given then List price = Invoice price
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?
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. What is the legal due date
The banker’s discount is also called true discount.
