ABC26GN5415 · Banker’s Discount
Subject: General Aptitude · Chapter: Banker’s Discount · Exam: · Marks: · Difficulty:
What rate percent does a man get for his money when in discounting a bill due 10 months hence, he deducts 10% of the amount of the bill?
Answer
Explanation
Let, amount of the bill = ` 100. Money deducted = ` 10. Money received by the holder of the bill = ` (100 – 10) = ` 90. ∴ S.I. on ` 90 for 10 months = ` 10. 100 × 10 1 ∴ Rate = % = 13 %. 10 3 90 × 12
Explanation as extracted from the printed page; notation may be imperfect.
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