Discount


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











  1. View Hint View Answer Discuss in Forum

    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
    365100

    Sum due = Present worth + True Discount
    Sum due = ₹400 + ₹8 = ₹408.


  1. 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 :











  1. View Hint View Answer Discuss in Forum

    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 bill-holder 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= 31%
    99 × 4/123333

    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 bill-holder 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= 31%
    99 × 4/123333



  1. A man bought a motor-cycle 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 :











  1. View Hint View Answer Discuss in Forum

    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%
    137


  1. 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 :











  1. View Hint View Answer Discuss in Forum

    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 discount24 - 22



  1. 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?











  1. View Hint View Answer Discuss in Forum

    Here , Amount = ₹17850 , Rate = 5% ,
    S.I. on ₹17850 at 5% is ₹357.

    ∴ Time = S.I. x 100
    Amount x Rate

    Time = 100 × 357=2Year = 146 Days
    17850 × 55

    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=2Year = 146 Days
    17850 × 55

    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.