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Question
Choose the correct alternative:
If A bill of ₹ 6,395 drawn on 15th February 2015 for 10 months was discounted on 28th May 2015 at 8% p.a. interest, then legal due date is ______
Options
15th December 2015
15th November 2015
18th December 2015
18th November 2015
Solution
18th December 2015
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The sum due is also called as ______.
Choose the correct alternative.
P is the abbreviation of
Banker’s gain is simple interest on ______.
The marked price is also called as _____________.
When only one discount is given, then ______
The banker’s discount is always _______ than the true discount.
Cash discount is allowed on list price.
State whether the following statement is True or False.
The date on which the period of the bill expires is called the nominal due date.
The difference between the banker’s discount and true discount is called sum due.
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 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.
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A person can get both, trade discount and cash discount
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 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`
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.
