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A bill of Rs. 5000 is due in 3 months. What is the Banker's Discount at the rate
A bill of Rs. 5000 is due in 3 months. What is the Banker's Discount at the rate of 10% per annum?
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Q1
A bill of Rs. 5000 is due in 3 months. What is the Banker's Discount at the rate of 10% per annum?
Rs. 125
Rs. 100
Rs. 150
Rs. 200
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Banker's Discount = (Face Value * Rate * Time) / 100 = (5000 * 10 * 3/12) / 100 = Rs. 125.
Questions & Step-by-step Solutions
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Q
Q: A bill of Rs. 5000 is due in 3 months. What is the Banker's Discount at the rate of 10% per annum?
Solution:
Banker's Discount = (Face Value * Rate * Time) / 100 = (5000 * 10 * 3/12) / 100 = Rs. 125.
Steps: 8
Show Steps
Step 1: Identify the face value of the bill, which is Rs. 5000.
Step 2: Identify the rate of interest, which is 10% per annum.
Step 3: Identify the time period until the bill is due, which is 3 months.
Step 4: Convert the time period from months to years. Since there are 12 months in a year, 3 months is equal to 3/12 years.
Step 5: Use the formula for Banker's Discount: Banker's Discount = (Face Value * Rate * Time) / 100.
Step 6: Substitute the values into the formula: Banker's Discount = (5000 * 10 * (3/12)) / 100.
Step 7: Calculate the value: First, calculate (3/12) which equals 0.25. Then, multiply: 5000 * 10 * 0.25 = 12500.
Step 8: Finally, divide by 100: 12500 / 100 = Rs. 125.
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