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What is the true discount on a bill of Rs. 30000 due in 2 years if the Banker's
What is the true discount on a bill of Rs. 30000 due in 2 years if the Banker's Discount is Rs. 3000?
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Practice Questions
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Q1
What is the true discount on a bill of Rs. 30000 due in 2 years if the Banker's Discount is Rs. 3000?
Rs. 2500
Rs. 3000
Rs. 3500
Rs. 2000
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True Discount = Banker's Discount × (Time / (Time + 1)) = 3000 × (2 / (2 + 1)) = Rs. 2000.
Questions & Step-by-step Solutions
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Q
Q: What is the true discount on a bill of Rs. 30000 due in 2 years if the Banker's Discount is Rs. 3000?
Solution:
True Discount = Banker's Discount × (Time / (Time + 1)) = 3000 × (2 / (2 + 1)) = Rs. 2000.
Steps: 8
Show Steps
Step 1: Identify the Banker's Discount, which is given as Rs. 3000.
Step 2: Identify the time period until the bill is due, which is 2 years.
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 = 3000 × (2 / (2 + 1)).
Step 5: Calculate the denominator: (2 + 1) = 3.
Step 6: Calculate the fraction: 2 / 3.
Step 7: Multiply the Banker's Discount by the fraction: 3000 × (2 / 3) = 3000 × 0.6667.
Step 8: Calculate the final result: True Discount = Rs. 2000.
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