Discount
 The present worth of a sum of money due for 146 days at 5 % is ₹400. The sum due is :

 ₹410
 ₹408
 ₹415
 ₹450
 None of these

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Given : Present worth = ₹400 , Rate = 5%
Time = 146 days = 146 years 365 True Discount = P.W. × Time × Rate 100
Correct Option: B
Given : Present worth = ₹400 , Rate = 5%
Time = 146 days = 146 years 365 True Discount = P.W. × Time × Rate 100 True Discount = ₹400 × 146 × 5 = ₹8 365 100
Sum due = Present worth + True Discount
Sum due = ₹400 + ₹8 = ₹408.
 A banker discounts a 4 months bill at 3 %. If the proceeds be invested in a manner, so that nothing is lost, the interest rate should be :

 3%
 4%

3 1 % 33 
3 1 % 36  None of these

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Here , 4 months = 1 years 3 & there4; Banker deducts ₹3 × 1 = ₹1 from a bill of ₹100 3
Banker 's discount = ₹1
So, the banker pays ₹(100  1) = ₹99.
Amount = ₹ 99
So, the billholder loses ₹1.
So, for investment ₹1 should be interest on ₹99 for 4 months.∴ Rate of interest = Banker 's discount × 100 % Amount × Time ∴ Rate of interest = 1 × 100 = 100 = 3 1 % 99 × 4/12 33 33 Correct Option: C
Here , 4 months = 1 years 3 & there4; Banker deducts ₹3 × 1 = ₹1 from a bill of ₹100 3
Banker 's discount = ₹1
So, the banker pays ₹(100  1) = ₹99.
Amount = ₹ 99
So, the billholder loses ₹1.
So, for investment ₹1 should be interest on ₹99 for 4 months.∴ Rate of interest = Banker 's discount × 100 % Amount × Time ∴ Rate of interest = 1 × 100 = 100 = 3 1 % 99 × 4/12 33 33
 A man bought a motorcycle for ₹32500. He sold it for ₹35000, allowing the buyer for a 6 months credit. If the money be worth 4 % per annum, the gain percent is :


8 1 % 7 
7 9 % 13 
7 5 % 13 
8 2 % 5  None of these


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Here , Selling Price of motor cycle = ₹35000
Cost Price of motor cycle = ₹32500
∴ Gain = Selling Price  Cost Price
Gain = ₹35000  ₹32500
Gain = ₹2500∴ Gain % = Gain × 100 % Cost Price Correct Option: B
Here , Selling Price of motor cycle = ₹35000
Cost Price of motor cycle = ₹32500
∴ Gain = Selling Price  Cost Price
Gain = ₹35000  ₹32500
Gain = ₹2500∴ Gain % = Gain × 100 % Cost Price ∴ Gain % = 2500 × 100 % 32500 = 100 % = 7 9 % 13 7
 At a given rate, the simple interest and the true discount on a certain sum, for a given time, are ₹24 and ₹22, respectively. The sum is :

 ₹264
 ₹220
 ₹288
 ₹295
 None of these

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Given : True discount = ₹ 24 and Simple Interest = ₹ 22
∴ Sum Due = True discount × Simple Interest Simple Interest  True discount Correct Option: A
Given : True discount = ₹ 24 and Simple Interest = ₹ 22
∴ Sum Due = True discount × Simple Interest = 24 × 22 = ₹ 264 Simple Interest  True discount 24  22
 The holder of a bill for ₹17850 nominally due on May 21, 1991 received ₹357 less than the amount of the bill by having it discounted at 5 %. When was it discounted?

 Dec 29, 1990
 Dec 30, 1989
 Dec 19, 1990
 Dec 20, 1995
 None of these

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Here , Amount = ₹17850 , Rate = 5% ,
S.I. on ₹17850 at 5% is ₹357.∴ Time = S.I. x 100 Amount x Rate Time = 100 × 357 = 2 Year = 146 Days 17850 × 5 5
So, the bill is 146 days prior to May 24, the legally due date.
Sum of the number of Days ( May + April + March + Feb. + Jan. + Dec. ) = 24 + 30 + 31 + 28 + 31 + 2 = 146 days So, the bill was discounted on Dec 29, 1990.Correct Option: A
Here , Amount = ₹17850 , Rate = 5% ,
S.I. on ₹17850 at 5% is ₹357.∴ Time = S.I. x 100 Amount x Rate Time = 100 × 357 = 2 Year = 146 Days 17850 × 5 5
So, the bill is 146 days prior to May 24, the legally due date.
Sum of the number of Days ( May + April + March + Feb. + Jan. + Dec. ) = 24 + 30 + 31 + 28 + 31 + 2 = 146 days So, the bill was discounted on Dec 29, 1990.