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If the Banker's Discount on a sum of $10000 for 1 year at 10% is $1000, what is

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Question: If the Banker\'s Discount on a sum of $10000 for 1 year at 10% is $1000, what is the maturity amount?

Options:

  1. $11000
  2. $12000
  3. $10000
  4. $9000

Correct Answer: $11000

Solution: 

Maturity Amount = Principal + Banker\'s Discount = 10000 + 1000 = $11000.

If the Banker's Discount on a sum of $10000 for 1 year at 10% is $1000, what is

Practice Questions

Q1
If the Banker's Discount on a sum of $10000 for 1 year at 10% is $1000, what is the maturity amount?
  1. $11000
  2. $12000
  3. $10000
  4. $9000

Questions & Step-by-Step Solutions

If the Banker's Discount on a sum of $10000 for 1 year at 10% is $1000, what is the maturity amount?
  • Banker's Discount – The Banker's Discount is the interest deducted in advance on a loan or investment, calculated on the face value of the sum for a specific period.
  • Maturity Amount – The Maturity Amount is the total amount payable at the end of the investment period, which includes the principal and any interest or discounts.
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