Discount


  1. The present worth of a sum of money due for 146 days at 5 % is ₹400. The sum due is :
    1. ₹410
    2. ₹408
    3. ₹415
    4. ₹450
    5. None of these

  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. 3%
    2. 4%
    3. 31%
      33
    4. 31%
      36
    5. None of these

  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. 81%
      7
    2. 79%
      13
    3. 75%
      13
    4. 82%
      5
    5. None of these

  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. ₹264
    2. ₹220
    3. ₹288
    4. ₹295
    5. None of these

  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. Dec 29, 1990
    2. Dec 30, 1989
    3. Dec 19, 1990
    4. Dec 20, 1995
    5. None of these

  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.