A sum of $4000 is borrowed for 2 years at a Banker's Discount of $320. What is t

Practice Questions

Q1
A sum of $4000 is borrowed for 2 years at a Banker's Discount of $320. What is the rate of interest?
  1. 4%
  2. 5%
  3. 6%
  4. 8%

Questions & Step-by-Step Solutions

A sum of $4000 is borrowed for 2 years at a Banker's Discount of $320. What is the rate of interest?
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