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What is the Banker's Discount on a sum of $1500 for 2 years at 15% per annum?

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Question: What is the Banker\'s Discount on a sum of $1500 for 2 years at 15% per annum?

Options:

  1. $450
  2. $300
  3. $225
  4. $150

Correct Answer: $450

Solution: 

Banker\'s Discount = 1500 × 15/100 × 2 = $450.

What is the Banker's Discount on a sum of $1500 for 2 years at 15% per annum?

Practice Questions

Q1
What is the Banker's Discount on a sum of $1500 for 2 years at 15% per annum?
  1. $450
  2. $300
  3. $225
  4. $150

Questions & Step-by-Step Solutions

What is the Banker's Discount on a sum of $1500 for 2 years at 15% per annum?
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