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A sum of money is due in 2 years. If the rate of interest is 10% per annum, what

Practice Questions

Q1
A sum of money is due in 2 years. If the rate of interest is 10% per annum, what is the Banker's Discount on a sum of $1000?
  1. $100
  2. $200
  3. $150
  4. $50

Questions & Step-by-Step Solutions

A sum of money is due in 2 years. If the rate of interest is 10% per annum, what is the Banker's Discount on a sum of $1000?
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