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What is the Banker's Discount on a loan of $10000 for 2 years at 6%?

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Question: What is the Banker\'s Discount on a loan of $10000 for 2 years at 6%?

Options:

  1. $1200
  2. $600
  3. $800
  4. $1000

Correct Answer: $1200

Solution: 

Banker\'s Discount = 10000 × 6/100 × 2 = $1200.

What is the Banker's Discount on a loan of $10000 for 2 years at 6%?

Practice Questions

Q1
What is the Banker's Discount on a loan of $10000 for 2 years at 6%?
  1. $1200
  2. $600
  3. $800
  4. $1000

Questions & Step-by-Step Solutions

What is the Banker's Discount on a loan of $10000 for 2 years at 6%?
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