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What is the true discount on a bill of Rs. 10000 due in 1 year if the Banker's D
What is the true discount on a bill of Rs. 10000 due in 1 year if the Banker's Discount is Rs. 1000?
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Practice Questions
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Q1
What is the true discount on a bill of Rs. 10000 due in 1 year if the Banker's Discount is Rs. 1000?
Rs. 900
Rs. 1000
Rs. 1100
Rs. 800
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True Discount = Banker's Discount × (Time / (Time + 1)) = 1000 × (1 / (1 + 1)) = Rs. 500.
Questions & Step-by-step Solutions
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Q
Q: What is the true discount on a bill of Rs. 10000 due in 1 year if the Banker's Discount is Rs. 1000?
Solution:
True Discount = Banker's Discount × (Time / (Time + 1)) = 1000 × (1 / (1 + 1)) = Rs. 500.
Steps: 6
Show Steps
Step 1: Identify the Banker's Discount, which is given as Rs. 1000.
Step 2: Identify the time period until the bill is due, which is 1 year.
Step 3: Use the formula for True Discount: True Discount = Banker's Discount × (Time / (Time + 1)).
Step 4: Substitute the values into the formula: True Discount = 1000 × (1 / (1 + 1)).
Step 5: Simplify the equation: True Discount = 1000 × (1 / 2).
Step 6: Calculate the result: True Discount = 1000 × 0.5 = Rs. 500.
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