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Calculate the maturity value of a bill of $4000 with a Banker's Discount of $200

Practice Questions

Q1
Calculate the maturity value of a bill of $4000 with a Banker's Discount of $200 for 6 months.
  1. $3800
  2. $4000
  3. $4200
  4. $4400

Questions & Step-by-Step Solutions

Calculate the maturity value of a bill of $4000 with a Banker's Discount of $200 for 6 months.
Correct Answer: $4200
  • Step 1: Identify the principal amount of the bill, which is $4000.
  • Step 2: Identify the Banker's Discount (BD), which is $200.
  • Step 3: To find the maturity value, add the principal amount and the Banker's Discount together.
  • Step 4: Calculate the maturity value: $4000 (principal) + $200 (BD) = $4200.
  • Step 5: The maturity value of the bill is $4200.
  • Maturity Value Calculation – The maturity value is calculated by adding the principal amount to the banker's discount.
  • Banker's Discount – The banker's discount is the interest deducted in advance from the principal amount.
  • Time Period – Understanding the time period (in this case, 6 months) is crucial for calculating the correct discount.
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