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What is the Banker's Discount on a loan of $6000 for 2 years at 9% per annum?

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Question: What is the Banker\'s Discount on a loan of $6000 for 2 years at 9% per annum?

Options:

  1. $1080
  2. $720
  3. $540
  4. $900

Correct Answer: $1080

Solution: 

Banker\'s Discount = 6000 × 9/100 × 2 = $1080.

What is the Banker's Discount on a loan of $6000 for 2 years at 9% per annum?

Practice Questions

Q1
What is the Banker's Discount on a loan of $6000 for 2 years at 9% per annum?
  1. $1080
  2. $720
  3. $540
  4. $900

Questions & Step-by-Step Solutions

What is the Banker's Discount on a loan of $6000 for 2 years at 9% per annum?
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