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Question
Find the true discount, banker's discount and banker's gain on a bill of Rs. 36,600 due 4 months hence at 5% p.a.
Solution
S.D. = Rs. 36,600
n = 4 months = `1/3` year
`B.D. = [ S.D. xx n xx r ]/[ 100 ]`
= `[ 36600 xx 1/3 xx 5 ]/[ 100 ]`
= Rs. 610
Let T.D. = x ( in Rs. )
B.D. = T.D. + interest on T.D.
= `x + x xx 1/3 xx 5/100`
= `36600 xx 1/3 xx 5/100`
= `x + x/60`
610 = `61/60`x
x = Rs. 600
i.e; T.D. = Rs. 600
Banker's Gain = Banker's Discount - True Discount
B.G. = 610 - 600
B.G. = Rs. 10
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