bankers discount aptitude questions

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1. The banker’s discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is:
A. Rs. 400 B. Rs. 360
C. Rs. 480 D. Rs. 320

Answer: Option A

Explanation:

 

T.D.
= B.D. x 100
100 + (R x T)
= Rs. 420 x 100
100 + 15 x 1
3
= Rs. 420 x 100
105
= Rs. 400.
2. The banker’s discount on Rs. 1600 at 15% per annum is the same as true discount on Rs. 1680 for the same time and at the same rate. The time is:
A. 3 months B. 4 months
C. 6 months D. 8 months

Answer: Option B

Explanation:

 

S.I. on Rs. 1600 = T.D. on Rs. 1680.

Rs. 1600 is the P.W. of Rs. 1680, i.e., Rs. 80 is on Rs. 1600 at 15%.

 

Time = 100 x 80 year = 1 year = 4 months.
1600 x 15 3
3. The banker’s gain of a certain sum due 2 years hence at 10% per annum is Rs. 24. The present worth is:
A. Rs. 480 B. Rs. 520
C. Rs. 600 D. Rs. 960

Answer: Option C

Explanation:

 

 

T.D. = B.G. x 100 = Rs. 24 x 100 = Rs. 120.
Rate x Time 10 x 2

 

P.W. = 100 x T.D. = Rs. 100 x 120 = Rs. 600.
Rate x Time 10 x 2
4. The banker’s discount on a sum of money for 1 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is:
A. 10% B. 13%
C. 12% D. 15%

Answer: Option C

Explanation:

 

 

B.D. for years = Rs. 558.
B.D. for 2 years
= Rs. 558 x 2 x 2
3
= Rs. 744

T.D. for 2 years = Rs. 600.

 

Sum = B.D. x T.D. = Rs. 744 x 600 = Rs. 3100.
B.D. – T.D 144

Thus, Rs. 744 is S.I. on Rs. 3100 for 2 years.

 

Rate = 100 x 744 % = 12%
3100 x 2
5. The banker’s gain on a sum due 3 years hence at 12% per annum is Rs. 270. The banker’s discount is:
A. Rs. 960 B. Rs. 840
C. Rs. 1020 D. Rs. 760

Answer: Option C

Explanation:

 

 

T.D. = B.G. x 100 = Rs. 270 x 100 = Rs. 750.
R x T 12 x 3

B.D. = Rs.(750 + 270) = Rs. 1020.
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