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If the present worth of a sum is $1200 and the banker's discount is $180 at 9% p

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Question: If the present worth of a sum is $1200 and the banker\'s discount is $180 at 9% per annum, what is the time period?

Options:

  1. 1 year
  2. 2 years
  3. 3 years
  4. 4 years

Correct Answer: 2 years

Solution: 

Banker\'s Discount = P × R × T / 100. 180 = 1200 × 9 × T / 100. T = 2 years.

If the present worth of a sum is $1200 and the banker's discount is $180 at 9% p

Practice Questions

Q1
If the present worth of a sum is $1200 and the banker's discount is $180 at 9% per annum, what is the time period?
  1. 1 year
  2. 2 years
  3. 3 years
  4. 4 years

Questions & Step-by-Step Solutions

If the present worth of a sum is $1200 and the banker's discount is $180 at 9% per annum, what is the time period?
  • Present Worth – The current value of a future sum of money, discounted at a specific interest rate.
  • Banker's Discount – The interest calculated on the face value of a loan or investment, used to determine the discount on the present worth.
  • Time Period Calculation – Determining the duration for which the money is invested or borrowed based on the discount and interest rate.
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