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Bankers Discount

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Bankers Discount MCQ & Objective Questions

The concept of Bankers Discount is crucial for students preparing for various school and competitive exams. Understanding this topic not only enhances your mathematical skills but also boosts your confidence in tackling objective questions. Practicing MCQs related to Bankers Discount helps in reinforcing concepts and improves your chances of scoring better in exams. With a focus on important questions and practice questions, you can master this topic effectively.

What You Will Practise Here

  • Definition and explanation of Bankers Discount
  • Key formulas related to Bankers Discount
  • Calculation methods for determining Bankers Discount
  • Examples of Bankers Discount in real-life scenarios
  • Comparison between Bankers Discount and other discount types
  • Common applications of Bankers Discount in finance
  • Practice questions and solutions for better understanding

Exam Relevance

Bankers Discount is a significant topic in various examinations, including CBSE, State Boards, NEET, and JEE. Students often encounter questions that require them to calculate discounts or understand the implications of Bankers Discount in financial contexts. Common question patterns include direct calculations, theoretical explanations, and application-based scenarios, making it essential for students to grasp this concept thoroughly.

Common Mistakes Students Make

  • Confusing Bankers Discount with other types of discounts
  • Incorrect application of formulas during calculations
  • Overlooking the time value of money in discount calculations
  • Misinterpretation of question requirements in MCQs

FAQs

Question: What is Bankers Discount?
Answer: Bankers Discount is the difference between the face value of a bill and its present value, which is calculated based on the interest rate and time period.

Question: How is Bankers Discount calculated?
Answer: It is calculated using the formula: Bankers Discount = Face Value x Rate x Time.

Now is the time to enhance your understanding of Bankers Discount! Dive into our practice MCQs and test your knowledge to ensure you are well-prepared for your exams. Remember, consistent practice leads to success!

Q. A bill of $1500 has a Banker's Discount of $45. What is the rate of interest for 6 months?
  • A. 5%
  • B. 6%
  • C. 7%
  • D. 8%
Q. A bill of Rs. 10000 is discounted at 5% per annum for 1 year. What is the bankers' discount?
  • A. Rs. 500
  • B. Rs. 600
  • C. Rs. 700
  • D. Rs. 800
Q. A bill of Rs. 10000 is due in 1 year. If the Banker's Discount is Rs. 800, what is the rate of interest?
  • A. 8%
  • B. 10%
  • C. 12%
  • D. 15%
Q. A bill of Rs. 12000 is discounted at 12% per annum for 9 months. What is the bankers' discount?
  • A. Rs. 900
  • B. Rs. 1200
  • C. Rs. 1000
  • D. Rs. 800
Q. A bill of Rs. 12000 is due in 5 months. If the Banker's Discount is Rs. 200, what is the rate of interest?
  • A. 4%
  • B. 5%
  • C. 6%
  • D. 7%
Q. A bill of Rs. 12000 is due in 9 months. Calculate the Banker's Discount at the rate of 15% per annum.
  • A. Rs. 450
  • B. Rs. 300
  • C. Rs. 600
  • D. Rs. 900
Q. A bill of Rs. 12000 is due in 9 months. If the bankers' discount is Rs. 900, what is the rate of interest?
  • A. 10%
  • B. 12%
  • C. 15%
  • D. 18%
Q. A bill of Rs. 15000 is due in 2 months. What is the Banker's Discount at 9% per annum?
  • A. Rs. 225
  • B. Rs. 300
  • C. Rs. 450
  • D. Rs. 375
Q. A bill of Rs. 15000 is due in 3 months. If the bankers' discount is Rs. 450, what is the rate of interest?
  • A. 9%
  • B. 10%
  • C. 12%
  • D. 15%
Q. A bill of Rs. 15000 is due in 3 months. What is the Banker's Discount at the rate of 8% per annum?
  • A. Rs. 300
  • B. Rs. 400
  • C. Rs. 200
  • D. Rs. 600
Q. A bill of Rs. 18000 is discounted at 10% per annum for 1 month. What is the Banker's Discount?
  • A. Rs. 150
  • B. Rs. 180
  • C. Rs. 200
  • D. Rs. 220
Q. A bill of Rs. 18000 is due in 4 months. What is the Banker's Discount at the rate of 9% per annum?
  • A. Rs. 540
  • B. Rs. 360
  • C. Rs. 720
  • D. Rs. 450
Q. A bill of Rs. 20000 is due in 1 year. If the bankers' discount is Rs. 1600, what is the effective rate of interest?
  • A. 8%
  • B. 10%
  • C. 12%
  • D. 14%
Q. A bill of Rs. 20000 is due in 3 months. If the Banker's Discount is Rs. 300, what is the effective interest rate?
  • A. 4%
  • B. 5%
  • C. 6%
  • D. 7%
Q. A bill of Rs. 25000 is discounted at 5% per annum for 3 months. What is the bankers' discount?
  • A. Rs. 312.5
  • B. Rs. 625
  • C. Rs. 500
  • D. Rs. 750
Q. A bill of Rs. 25000 is due in 1 year. Calculate the Banker's Discount at the rate of 5% per annum.
  • A. Rs. 1250
  • B. Rs. 1000
  • C. Rs. 1500
  • D. Rs. 2000
Q. A bill of Rs. 25000 is due in 1 year. If the Banker's Discount is Rs. 2000, what is the rate of interest?
  • A. 8%
  • B. 10%
  • C. 12%
  • D. 15%
Q. A bill of Rs. 4000 is due in 2 months. What is the Banker's Discount at the rate of 5% per annum?
  • A. Rs. 33.33
  • B. Rs. 20
  • C. Rs. 50
  • D. Rs. 40
Q. A bill of Rs. 5000 is due in 2 months. What is the Banker's Discount at 10% per annum?
  • A. Rs. 83.33
  • B. Rs. 100
  • C. Rs. 200
  • D. Rs. 250
Q. A bill of Rs. 5000 is due in 3 months. What is the Banker's Discount at 10% per annum?
  • A. Rs. 125
  • B. Rs. 150
  • C. Rs. 100
  • D. Rs. 200
Q. A bill of Rs. 5000 is due in 3 months. What is the Banker's Discount at the rate of 10% per annum?
  • A. Rs. 125
  • B. Rs. 100
  • C. Rs. 150
  • D. Rs. 200
Q. A bill of Rs. 5000 is due in 6 months. What is the Banker's Discount at the rate of 10% per annum?
  • A. Rs. 250
  • B. Rs. 300
  • C. Rs. 500
  • D. Rs. 400
Q. A bill of Rs. 5000 is due in 6 months. What is the bankers' discount at the rate of 10% per annum?
  • A. Rs. 250
  • B. Rs. 300
  • C. Rs. 500
  • D. Rs. 600
Q. A bill of Rs. 6000 is discounted at 15% per annum for 4 months. What is the Banker's Discount?
  • A. Rs. 100
  • B. Rs. 150
  • C. Rs. 200
  • D. Rs. 250
Q. A bill of Rs. 6000 is due in 4 months. What is the Banker's Discount at 15% per annum?
  • A. Rs. 300
  • B. Rs. 150
  • C. Rs. 200
  • D. Rs. 250
Q. A bill of Rs. 6000 is due in 9 months. If the Banker's Discount is Rs. 450, what is the rate of interest?
  • A. 8%
  • B. 9%
  • C. 10%
  • D. 11%
Q. A bill of Rs. 7000 is due in 1 year. If the Banker's Discount is Rs. 700, what is the rate of interest?
  • A. 10%
  • B. 12%
  • C. 14%
  • D. 16%
Q. A bill of Rs. 8000 is discounted at 15% per annum for 3 months. What is the bankers' discount?
  • A. Rs. 300
  • B. Rs. 200
  • C. Rs. 100
  • D. Rs. 400
Q. A bill of Rs. 8000 is due in 2 months. If the bankers' discount is Rs. 160, what is the rate of interest?
  • A. 9%
  • B. 10%
  • C. 12%
  • D. 15%
Q. A loan of $3000 is taken for 4 years at a Banker's Discount of $600. What is the rate of interest?
  • A. 5%
  • B. 6%
  • C. 7%
  • D. 8%
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