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What is the Banker's Discount on a bill of Rs. 2000 due in 4 months at 15% per a
What is the Banker's Discount on a bill of Rs. 2000 due in 4 months at 15% per annum?
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What is the Banker's Discount on a bill of Rs. 2000 due in 4 months at 15% per annum?
Rs. 100
Rs. 80
Rs. 60
Rs. 120
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Banker's Discount = (2000 * 15 * 4/12) / 100 = Rs. 100.
Questions & Step-by-step Solutions
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Q
Q: What is the Banker's Discount on a bill of Rs. 2000 due in 4 months at 15% per annum?
Solution:
Banker's Discount = (2000 * 15 * 4/12) / 100 = Rs. 100.
Steps: 11
Show Steps
Step 1: Identify the total amount of the bill, which is Rs. 2000.
Step 2: Determine the rate of interest, which is 15% per annum.
Step 3: Find the time period in months, which is 4 months.
Step 4: Convert the time period from months to years by dividing by 12. So, 4 months = 4/12 years.
Step 5: Calculate the Banker's Discount using the formula: Banker's Discount = (Principal * Rate * Time) / 100.
Step 6: Substitute the values into the formula: Banker's Discount = (2000 * 15 * (4/12)) / 100.
Step 7: Simplify the calculation: First, calculate (4/12) which equals 1/3.
Step 8: Now calculate: Banker's Discount = (2000 * 15 * (1/3)) / 100.
Step 9: Multiply 2000 by 15 to get 30000.
Step 10: Now divide 30000 by 3 to get 10000.
Step 11: Finally, divide 10000 by 100 to get Rs. 100.
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