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What is the Banker's Discount on a sum of $2500 for 2 years at 12% per annum?

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Question: What is the Banker\'s Discount on a sum of $2500 for 2 years at 12% per annum?

Options:

  1. $600
  2. $500
  3. $300
  4. $400

Correct Answer: $600

Solution: 

Banker\'s Discount = 2500 × 12/100 × 2 = $600.

What is the Banker's Discount on a sum of $2500 for 2 years at 12% per annum?

Practice Questions

Q1
What is the Banker's Discount on a sum of $2500 for 2 years at 12% per annum?
  1. $600
  2. $500
  3. $300
  4. $400

Questions & Step-by-Step Solutions

What is the Banker's Discount on a sum of $2500 for 2 years at 12% per annum?
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