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The true discount on a bill of $ 2550 due after 3 months is $ 50. Find the banker’s discount.
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- $ 53
- $ 51
- $ 55
- $ 57
Correct Option: B
Given :- True discount = $ 50 , Amount = $ 2550
Present Worth = Amount - True discount
Present Worth = $ 2550 - $ 50 = $ 2500
| Rate of Interest = | 50 x 100 x 4 | = 8 % pew annum |
| 2500 x 1 |
| B.D. = $ |  | 2550 | x 8 x | 1 |  | = $ 51 |
| 100 | 4 |
