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What is the Banker's Discount on a loan of $1500 for 2 years at 6% per annum?

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Question: What is the Banker\'s Discount on a loan of $1500 for 2 years at 6% per annum?

Options:

  1. $180
  2. $120
  3. $90
  4. $60

Correct Answer: $180

Solution: 

Banker\'s Discount = 1500 × 6/100 × 2 = $180.

What is the Banker's Discount on a loan of $1500 for 2 years at 6% per annum?

Practice Questions

Q1
What is the Banker's Discount on a loan of $1500 for 2 years at 6% per annum?
  1. $180
  2. $120
  3. $90
  4. $60

Questions & Step-by-Step Solutions

What is the Banker's Discount on a loan of $1500 for 2 years at 6% per annum?
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